The monetary unit of Canada slipped in value against the world's reserve currency on Friday as both nations are projected to release underwhelming economic data, Bloomberg reports.
Both Canada and the U.S. are likely to have unchanged unemployment rates in the reports released on Friday. Canada's second quarter of 2012 is projected to be the nation's weakest in 24 months. Only 5,000 new jobs were created in June as compared to 7,700 new jobs created during the month of May, according to a Bloomberg poll.
Foreign exchange director Matthew Perrier with the Bank of Montreal in Toronto said Friday morning is seeing slight amounts of risk-of activity that is likely influenced by low figures from employment.
The loonie was virtually unchanged against the common currency of the European Union one day after notching its highest value in two years against the embattled moneypiece.
Shifting south, Reuters reports economists predict the U.S. created 90,000 jobs in June, which would dwarf the 69,000 created in May. Those totals represent the metric's worst results in one year.
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