Loonie Mixed After Disappointing Canadian Jobs Data

The Canadian dollar showed mixed performance against its major rivals in New York deals on Friday, after the release of dismal domestic jobs data in January.

Data from the Statistics Canada showed that the economy shed 5,700 jobs in January, compared to expectations for a creation of 6,000 jobs. In December, the number of employed rose to 24,100 people.

The unemployment rate edged up to 7.2 percent from 7.1 percent last month.

The loonie fell to a 2-day low of 1.3818 against the greenback, off its prior high of 1.3710. The loonie may find support around the 1.40 zone

The loonie slipped to 2-day low of 84.61 against the yen and held steady thereafter. The pair closed yesterday's deals at 84.89.

The loonie that weakened to a 10-day low of 1.5472 against the euro following the data, recovered to 1.5333 in a short while. On the upside, 1.52 is seen as the next resistance level for the loonie.

The loonie climbed to a 2-day high of 0.9815 against the aussie, after falling to 0.9914 in early deals. The next possible resistance for the loonie may be found around the 0.97 mark.