- Unemployment Rate in Canada declined to 6.9% in September.
- USD/CAD trades in the negative territory below 1.2500.
The Unemployment Rate in Canada edged lower to 6.9% in September from 7.1% in August, the data published by Statistics Canada showed on Friday. Net Change in Employment arrived at +157.1K in the same period, beating the market expectation of 60K.
Further details of the report revealed that the Labor Force Participation Rate improved to 65.5% from 65.1%.
Market reaction
The USD/CAD pair fell sharply on the back of the robust Canadian jobs report and was last seen trading at 1.2490, where it was down 0.45% on a daily basis. The renewed USD weakness on the disappointing US Nonfarm Payrolls figures is also causing the pair to remain on the back foot.
