During Friday’s trading, the Canadian dollar demonstrated the same performance as most other currencies, rising against the US dollar and the Japanese yen while falling versus the euro. Domestic data was mixed, giving the loonie little help in finding direction.
Canada’s employment rose by 12,100 in September from the preceding month. At the same time, the unemployment rate ticked up by 0.1 percentage point to 7.1 percent while analysts had promised a drop by the same amount. Also, it is important to note that the number of full-time jobs slid 61,900, and the total employment increase was the result of growth of part-time jobs by 74,000.
The Canadian currency was receiving support from the rally of crude oil prices, the same as yesterday. Yet crude is rapidly losing gains as of now, endangering the loonie in the process.
USD/CAD dropped from 1.3014 to 1.2944 as of 18:27 GMT today, and its daily low of 1.2900 was the lowest since July 29. EUR/CAD rose rose from 1.4672 to 1.4712. CAD/JPY climbed from 92.12 to 92.90, reaching the high of 93.24 intraday — the highest rate since 94.41.
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