The Canadian dollar ended Friday lower against its US peer because of unexpectedly good non-farm payrolls, but rose against most other major currencies thanks to Canadian employment data that was positive too.
Canadian employers added 13,200 jobs in October, while in September employment grew by 11,900. The unemployment rate remained steady at 6.9 percent, frustrating analysts who have expected a small increase. Housing starts edged up to 195,338 in October compared to 191,557 in September.
As one could expect, the loonie lost to greenback due to the surge of non-farm employment in the United States. Yet the Canadian currency managed to gain not only on the euro, which was weakened by bad news from Europe, but surprisingly enough also against the Japanese yen, which should have profited from the risk-negative sentiment on the Forex market.
USD/CAD closed at 1.0476 after rising from 1.0459 to 1.0501 — the strongest price since September 6. EUR/CAD went down from 1.4036 to 1.3995 and CAD/JPY jumped from 93.72 to 94.61.
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