7 Feb 2014
USD/CAD slumps after Canada, US jobs data
FXStreet (Córdoba) - The USD/CAD fell sharply and briefly dipped below 1.1000 in the wake of strong Canadian jobs data in contrast with disappointing US nonfarm payrolls numbers.
The US economy added 113,000 new jobs in January following only 75,000 new jobs in December, well below the 185,000 expected. Meanwhile in Canada, there were 29,400 net new jobs created above the 20,000 expected, with the unemployment falling to 7.0% from 7.2%.
USD/CAD dips below 1.1000
The USD/CAD lost more than 70 pips in a matter of minutes, breaking below several support levels to hit a 2-week low of 1.0988 in recent dealings. At time of writing, the USD/CAD is trading at 1.0995, recording a 0.7% loss on Friday.
The US economy added 113,000 new jobs in January following only 75,000 new jobs in December, well below the 185,000 expected. Meanwhile in Canada, there were 29,400 net new jobs created above the 20,000 expected, with the unemployment falling to 7.0% from 7.2%.
USD/CAD dips below 1.1000
The USD/CAD lost more than 70 pips in a matter of minutes, breaking below several support levels to hit a 2-week low of 1.0988 in recent dealings. At time of writing, the USD/CAD is trading at 1.0995, recording a 0.7% loss on Friday.