Canadian Dollar Off Early Highs Versus Majors

The Canadian dollar eased form morning session's gain against major currencies during New York afternoon trading on Friday. As of now, the loonie is trading near 79.92 against the Japanese yen and 0.9999 against the US dollar from previous session's multi-day highs of 80.38 and 0.9956, respectively.

After hitting new multi-month highs of 1.2885 against the euro and 1.0007 versus the Australian dollar at about 10:00 am ET, the loonie reversed its direction and currently trading near 1.2925 and 1.0033, respectively.

In earlier today, the Statistics Canada said the economy generated 58,000 jobs in April, mostly in full-time work. However, with more people searching for work, the unemployment rate increased by 0.1 percentage points to 7.3 percent. Compared with 12 months earlier, employment was up 1.2 percent or 214,000.