Loonie Eventually Benefits from Strong US Data

        09:56 EDT - The loonie stumbled against the greenback in the wake of strong US jobs data, with USD/CAD up 0.26%. But strong US data can, over time, actually help the Canadian dollar. A robust recovery in the US will be a tonic for Canada's anemic economy, which is particularly dependent on exports given the huge debts weighing on consumers and governments. So longer-term, a stronger US will be a support for the Canadian dollar. So despite today's decline, CAD holds within its recent trading range, with USD/CAD at 1.0983. That's still well below the week's high of 1.1043. (don.curren@wsj.com; @dbcurren)
        (END) Dow Jones Newswires

        May 02, 2014 09:56 ET (13:56 GMT)