Loonie Extends Rally After Upbeat Canadian Jobs Data
April 07 2017 - 4:40AM
RTTF2
The Canadian dollar extended its early rally against its most
major rivals in early New York deals on Friday, after data showed
that the Canadian economy added more jobs than forecast in
March.
Data from Statistics Canada showed that the employment grew a
seasonally adjusted 19,400 jobs in March, outstripping forecasts
for an addition of 5,700 jobs. In February, the economy added
15,300 jobs.
The jobless rate rose 0.1 percent to 6.7 percent
in March from 6.6 percent last month. The reading was in line with
forecasts.
The loonie extended rally to a 2-day high of 83.05 against the
yen, off its early low of 82.10.
The loonie spiked up to 1.0028 against the aussie, its highest
since February 24, while reaching a 4-day high of 1.4180 against
the euro.
The loonie may possibly find resistance around the 84.00 against
the yen, 0.99 against the aussie and 1.40 against the euro.
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