The Canadian dollar was higher versus the greenback on Friday as a domestic report showed a jump in new home construction, while a downwardly revised US figure weighed on the US dollar. Domestic bonds were all lower as the stronger-than-expected headline jobs number out of the US dictated direction in the Canadian fixed-income market.
The Canadian unit was at C$1.1486 to the US dollar, or 87.06 US cents, up from C$1.1491 to the US dollar, or 87.02 US cents, at Thursday's close. The Canadian dollar was barely changed after a domestic report showed new housing starts in Canada rose 0.8 percent in November as a boost in the multiples segment offset a drop in construction of single detached homes.
But the currency managed to take advantage of a US dollar which reversed course after an initial jump following a non-farm payrolls report that showed the US economy added a stronger-than-forecast 132,000 jobs in November.