Currency Note Worldwide

Employment data supports the Canadian dollar

By Smart Currency October 13th, 2014

  • Friday saw the Canadian dollar have a strong finish to the week against its US counterpart. This largely came down to Fridays release of strong Canadian jobs data and as concerns highlighted by the US Federal Reserve this week weighed heavy on the greenback. The report by Statistics Canada showed that the number of people in jobs rose by 74,100 in September. This outstripped any previous anticipations, as expectations stood at 20,000, given a decline of 11,000 in the previous month. The report also showed that Canadian unemployment fell to 6.8%, down from 7% in August. Analysts had expected the unemployment rate to hold steady.

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