- Analytics
- News and Tools
- Market News
- USD/CAD slides toward 1.3700 as Loonie soars on upbeat Canadian jobs report
USD/CAD slides toward 1.3700 as Loonie soars on upbeat Canadian jobs report
- The US economy adds 336K jobs in September, surpassing expectations of 170K.
- Canadian employment rose by 64K, also surpassing expectations.
- USD/CAD remains near the 1.3720 area as the Loonie outperforms.
The USD/CAD rose to 1.3745 after the release of US and Canadian labor market data and then reversed, pulling back toward the 1.3700 area. The positive impact of the US figures was offset by the Canadian report.
Upbeat jobs reports
The Unemployment Rate in Canada held steady at 5.5% in September, better than the market consensus of a modest increase to 5.6%. Employment rose by 63,800, above the 20,000 expected.
In the US, Nonfarm payrolls jumped by 336K, largely above the 170K of market consensus. August numbers were revised higher from 187K to 227K. The Unemployment rate remained steady at 3.8%.
The numbers boosted both the US Dollar and the Canadian Dollar, resulting in the USD/CAD remaining in a familiar range around 1.3720. The Loonie is outperforming while the US Dollar Index is up by 0.45%, approaching the 107.00 level.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
