CAD Price Analysis & News
- Canadian Employment Change 259.2k vs Exp. 75k
- Unemployment Rate Drops 1.2ppts to 8.2%
- US Dollar Falls
BOTTOM LINE: A very strong employment report, adding to the slew of data that has surpassed the Bank of Canada’s forecasts. The headline rate rose 259.2k, topping expectations of 75k, while this was led by the part-time jobs increase, there was also good gains in full-time employment. Meanwhile the unemployment rate fell to 8.2%, significantly below expectations of 9.2%.
MARKET REACTION: CAD Strengthens Across The Board
As to be expected from a stellar jobs report, the Canadian Dollar rose across the board with USD/CAD falling to fresh intra-day lows. A similar reaction had been observed across the CAD crosses with CADJPY testing 87.00.
Updates to follow….
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Source: DailyFX
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