Canadian Dollar Climbs On Rising Oil Prices

The Canadian dollar advanced against its major counterparts in the Asian session on Friday, as oil prices rose after the U.S. air strikes in Syria in retaliation to chemical weapon attack that killed dozens of civilians.

Crude for May delivery rose $0.60 to $52.30 per barrel.

The U.S. government on Thursday launched military attack at the Shayrat Airfield in Homs in western Syria, killing at least four soldiers.

Fifty nine missiles were launched from two U.S. warships in the Mediterranean Sea, the defense department said.

Investors await the outcome of talks between the U.S. and Chinese presidents as well as U.S. and Canadian jobs data due later in the day.

The nonfarm payrolls are expected to show an increase of about 180,000 jobs in March, while the unemployment rate is expected to hold at 4.7 percent.

Canadian employment is forecast to slow by 5,700 jobs in March with a jobless rate of 6.7 percent.

The loonie has been trading in a positive territory against its major rivals on Thursday.

The loonie that ended yesterday's trading at 1.4272 against the euro rose to a 4-day high of 1.4251. The next possible resistance for the loonie may be found around the 1.41 region.

Reversing from an early low of 1.3431 against the greenback, the loonie climbed to a 2-day high of 1.3395.The pair finished Thursday's trading at 1.3413. Continuation of the loonie's uptrend may see it challenging resistance around the 1.33 region.

The loonie was trading higher at 82.53 against the yen, up from an early low of 82.10. The loonie may possibly find resistance around the 84.00 area.

Data from the Cabinet Office showed that Japan's leading index dropped to a 3-month low in February.

The leading index fell more-than-expected to 104.4 in February from 104.9 in January. This was the lowest score in three months. The expected score was 104.6

The loonie spiked up to 1.0075 against the aussie, its highest since February 27. Continuation of the loonie's uptrend may see it challenging resistance around the 0.995 level.

The latest survey from the Australian Industry Group showed that Australia's construction sector continued to expand in March, although at a slower pace, with a Performance of Construction Index score of 51.2.

That's down from 53.1 in February, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Looking ahead, the Bank of England Governor Mark Carney is expected to speak at Thomso in London at 4:00 am ET.

U.K. construction output, industrial production and trade balance, all for February, are due to be released at 4:30 am ET.

In the New York session, U.S. and Canada jobs data for March, Canada Ivey PMI for March, U.S. wholesale inventories data for March and consumer credit for February are slated for release.

At 10:00 am ET, Bank of Canada Governor Stephen Poloz and Bank of Canada Senior Deputy Governor Carolyn Wilkins will hold a press conference on Monetary Policy Report, in Ottawa.

At 11:15 am ET, Federal Reserve Bank of New York President William Dudley is expected to speak on "The State of Financial Regulation and the Potential for Reform" before a luncheon organized by the Griswold Center for Economic Policy Studies, Princeton University - 1, in New York.