Loonie slips as job creation in Canada, U.S. beats expectations The Canadian dollar was lower in the wake of jobs data that came in above expectations in Canada and the U.S. The loonie down 0.2 of a cent to 95.39 cents US after Statistics Canada reported that the economy created 13,200 jobs last month while the jobless rate held steady at 6.9 per cent. Economists had expected that about 11,000 jobs would be created. The American currency gained ground after the U.S. Labor Department reported that the economy cranked out 204,000 jobs, far above the approximately 120,000 reading that was expected. The jobless rate ticked up 0.1 of a point to 7.3 per cent, reflecting the huge temporary layoffs that resulted from the partial U.S. government shutdown during early October. The data came out a day after U.S. gross domestic product for the third quarter came in at a higher than expected annualized rate of 2.8 per cent. Both reports heightened speculation that the U.S. Federal Reserve will start winding up its US$85-billion of monthly bond purchases, a stimulus program that has supported a strong rally on markets. Meanwhile, France's principal credit rating was downgraded again Friday by Standard & Poor's, which said the country has limited ability to get its public finances in shape and make its economy more competitive. The agency lowered France's long-term foreign and local currency sovereign credit ratings one notch to AA from AA-plus. However, the outlook for the rating is "stable," meaning no further changes are expected in the near term. On the commodity markets, December crude on the New York Mercantile Exchange edged up 25 cents to US$94.45 a barrel. December copper was down two cents to US$3.23 a pound and December bullion was $15 lower to US$1,293.50 an ounce.