A closely watched report released by the Labor Department on Friday showed U.S. job growth slowed by much more than anticipated in the month of November.

The Labor Department said non-farm payroll employment rose by 245,000 jobs in November after jumping by a downwardly revised 610,000 jobs in October.

Economists had expected employment to increase by 469,000 jobs compared to the addition of 638,000 jobs originally reported for the previous month.

Despite the weaker than expected job growth, the unemployment rate dipped to 6.7 percent in November from 6.9 percent in October. The unemployment rate was expected to edge down to 6.8 percent.

Statistics Canada has released Canada trade report for October and jobs data for November at 8:30 am ET Friday. Following these data, the loonie climbed against its major counterparts.

The loonie was trading at 1.5621 against the euro, 80.90 against the yen, 0.9537 against the aussie and 1.2843 against the greenback around 8:33 am ET.

U.S. trade report for October and jobs data for November have been released at 8:30 am ET Friday. Following these reports, the greenback dropped against its major counterparts.

The greenback was trading at 103.97 against the yen, 0.8902 against the franc, 1.2157 against the euro and 1.3470 against the pound around 8:35 am ET.

Canadian Unemployment Rate Drops To 8.5% In November

Canadian Trade Deficit Virtually Unchanged At C$3.8 Billion In October

Canadian Employment Rose By 62,000 Jobs In November

U.S. Trade Deficit Widens To $63.1 Billion In October

U.S. Unemployment Rate Edges Down To 6.7% In November

U.S. Employment Rises By 245,000 Jobs In November

Statistics Canada releases Canada trade report for October and jobs data for November at 8:30 am ET Friday. Ahead of these reports, the loonie traded mixed against its major counterparts. While the loonie climbed against the aussie, it held steady against the rest of major rivals.

The loonie was worth 1.5632 against the euro, 80.86 against the yen, 0.9540 against the aussie and 1.2862 against the greenback as of 8:25 am ET.