* C$ at C$1.0078 vs US$, or 99.23 U.S. cents
* C$ gains 0.9 percent vs US$ for the week
* Makes strong session gains against euro, yen
* North American currency pair rise in unison
By Alastair Sharp
TORONTO, May 3 The Canadian dollar gained slightly on its U.S. counterpart and jumped versus other major currencies on Friday, as both North American currencies were boosted by a U.S. labor market report showing hiring rose more than expected in April.
The loonie, as Canada's currency is colloquially known, ended the week 0.9 percent stronger against the greenback, helped by a decent showing on domestic growth early in the week and the surprisingly robust U.S. jobs data on Friday.
"There is some optimism into the end of the week," said Jack Spitz, managing director of foreign exchange at National Bank Financial.
"The payroll numbers in the States were better than expectations, the equity markets are up roughly 1 percent, commodities have rebounded off the low earlier this week, and that relative value optimism should reflect itself in a better Canadian dollar over time, all things equal," he said.
U.S. nonfarm payrolls rose by 165,000 in April, while job increases for the previous months were revised higher. The unemployment rate fell to a four-year low of 7.5 percent.
"Positive momentum in the U.S. economy and labor market can also be seen as a good thing for Canada and our economy," said Blake Jespersen, a managing director of foreign exchange sales at BMO Capital Markets.
While the loonie only notched a marginal gain against the greenback, it strengthened sharply against the euro, knocking off almost a cent after the jobs data before paring gains to trade around C$1.3220 versus the common currency.
It maintained its jump above 98 Japanese yen, its strongest level since mid-April.
The currency settled to trade at C$1.0078 to the greenback, or 99.23 U.S. cents. It closed on Thursday at C$1.0083.
Prices for Canadian government bonds were lower across the curve. The two-year bond fell 9 Canadian cents to yield 0.962 percent, while the benchmark 10-year bond plunged 91 Canadian cents to yield 1.772 percent.
Canadian government bonds outperformed their U.S. counterparts, with yields rising less than equivalent Treasuries.