* Canadian dollar rises 0.3% against the greenback
* Canada sheds one million jobs in March
* Price of U.S. oil increases 4.7%
* Canadian bond yields fall across much of the curve
TORONTO, April 9 (Reuters) - The Canadian dollar
strengthened against its U.S. counterpart on Thursday along with
gains for stocks and higher oil prices, with the currency
fluctuating after domestic data showed a record level of job
losses.
At 9:36 a.m. (1336 GMT), the Canadian dollar was
trading 0.3% higher at 1.3968 to the greenback, or 71.59 U.S.
cents. The currency, which on Tuesday touched an 11-day high at
1.3941, traded in a range of 1.3955 to 1.4076.
Canada shed one million jobs in March while the unemployment
rate soared to 7.8%, official data showed, as the coronavirus
outbreak forced the closure of non-essential businesses.
Ottawa is rolling out more than C$200 billion in measures to
support the economy, while the Bank of Canada has slashed
interest rates to 0.25% and has begun quantitative easing, a
program of buying government bonds in large-scale.
The U.S. Federal Reserve has also been active. On Thursday,
it announced a massive $2.3 trillion program to bolster local
governments and businesses impacted by the coronavirus pandemic,
which boosted U.S. equity markets .
Canada runs a current account deficit and is a major
producer of commodities, including oil, so the loonie tends to
be sensitive to the global flow of trade and capital.
U.S. crude prices were up 4.7% at $26.26 a barrel on
expectations the world's leading crude producers will at a
meeting later in the day overcome obstacles that have so far
prevented a deal to cut output.
Canadian government bond yields were lower across much of
the curve, with the 10-year down 1.8 basis points at
0.795%.
(Reporting by Fergal Smith)
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