12:31 PM · 11 October 2024

BREAKING: Canadian employment change much stronger than expected. USDCAD loses 📉

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Canadian employment change in September came in 46.7k vs 27k exp. and 22.1k previously

Unemployment unexpectedly dropped to 6.5% vs 6.7% exp. and 6.6% previously
Participation rate came in 64.9% vs 65.1% exp. and 65.1% previously

Despite stronger than expected Canadian labor market data, USDCAD is pressured by higher than expected US PPI reading.

Source: xStation5

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Losses can exceed deposits

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