Breaking news: CAD jumps as jobs data beats forecasts

There’s been a clear move higher seen in the Canadian dollar in recent trade with the Loonie jumping across the board after the release of the latest employment figures. While the headline reading was a little lower than last time out it was still far better than expected and the composition of jobs was also pleasing with full-time roles accounting entirely for the overall gain as part-time roles actually decreased.  

Canadian employment change: 53.7k vs 7.5k Exp. Prior: +81.1k 

Full-time roles: +70k

Part-time roles: -16.3k

Unemployment rate: 5.5% vs 5.7% Exp.

USDCAD has dropped sharply on the back of a strong jobs report from Canada with the market falling almost 70 pips in the 5 minutes after the release. Source: xStation