* Canadian dollar strengthens 0.1% against the greenback
* Canada adds 303,100 jobs in March
* Price of U.S. oil falls 0.3%
* Canadian 10-year yield rises 7.6 basis points to 1.537%
TORONTO, April 9 (Reuters) - The Canadian dollar edged
higher against its broadly stronger U.S. counterpart on Friday,
with the loonie clawing back its earlier decline after domestic
data showed the economy adding far more jobs than expected in
March.
Driven by the continued recovery across sectors hit by
January shutdowns, Canada added 303,100 jobs in March, triple
analyst expectations and the second straight month of robust
gains.
"Canada's labour market continued to make noise in March.
There was another boom in hiring," Royce Mendes, senior
economist at CIBC Capital Markets, said in a note.
Still, some of the job gains could be reversed in the coming
months after restrictions were tightened to battle a third wave
of the coronavirus pandemic, Mendes said.
The pandemic and its damaging impact on women has underlined
the need for a national childcare plan, which would also help
the economic recovery, Finance Minister Chrystia Freeland said
on Thursday. She will unveil details in her April 19 budget.
The Canadian dollar was the only G10 currency to
advance against the greenback, trading 0.1% higher at 1.2549, or
79.69 U.S. cents. For the week, the loonie was on track to gain
0.2%.
The price of oil, one of Canada's major exports, was
pressured by rising supplies from major producers. U.S. crude
prices were down 0.3% at $59.42 a barrel, while the U.S.
dollar gained ground against a basket of major currencies,
supported by higher U.S. Treasury yields.
Canadian government bond yields also climbed and the curve
steepened, with the 10-year up 7.6 basis points at
1.537%.
(Reporting by Fergal Smith; Editing by Andrea Ricci)
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