Monday saw the Canadian dollar climb higher in value against the world's reserve currency, during the first trading session after notching its worst losses against its southerly rival in six months, Bloomberg reports.
Propelling the loonie higher during Monday's trading session was the upward surge of prices of crude oil, which is the top export of the natural-resources-rich nation. But the loonie's gains were tempered by apprehensions about the Business Outlook Survey that the Bank of Canada is slated to release later in the trading session, The Wall Street Journal reports.
The loonie's losses last week were due to March seeing 54,500 fewer jobs created, which represents the sharpest employment losses since the country backed into an economic recession in 2009.
The Business Outlook Survey is a gauge of the country's corporate environment, and the poor labor market data from last week is likely to cast a shadow over results of the survey.
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