- Downbeat Canadian employment data on Friday increased pressure on the Canadian dollar. However, losses against its US counterpart were tempered by the release of data showing that the US economy created fewer jobs than originally anticipated last month. The loonie also found support on Friday as it was stated that Canada’s unemployment rate remained at 7.0%, in line with predictions. It will be interesting to see if Canadian building permits data due to be realised later today will continue Friday’s trend for the Canadian dollar.
- Friday also saw the Japanese yen strengthen against the U.S dollar. The much-anticipated jobs market report released by the Department of Labour on Friday stated that the U.S economy had added 142,000 jobs throughout August – this missed the expected figure of 225,000. This saw the US dollar close against the yen on Friday at 104.70, down 0.29%.
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