* 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
"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
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