Canadian Dollar Tumbles After Strong U.S.Jobs Data

 
   By Don Cureen 
 

        TORONTO--The Canadian dollar tumbled after a stronger-than-expected April jobs report in the U.S. prompted the greenback to strengthen sharply and broadly against major currencies.
        The U.S. dollar is at C$1.0996 Friday, from C$1.0971 just before the data and C$1.0957 late Thursday, according to data provider CQG.
        The U.S. dollar surged to a session high at C$1.1007, its highest level since Tuesday, but was unable to stay at that level, receding quickly to the C$1.0990 area.
        The U.S. economy created 288,000 new jobs in April, far surpassing the 2l5,000 expected by economists. The unemployment rate dropped to 6.3%, the lowest level since September 2008.
        There are no significant data in Canada on Friday; jobs data for April will be released on May 9.
        A report from RBC Capital Markets put resistance at C$1.1052 and C$1.1119 and support at C$1.0943.
        Write to Don Curren at don.curren@wsj.com
        (END) Dow Jones Newswires

        May 02, 2014 08:51 ET (12:51 GMT)