Canadian Dollar Advances After Strong Jobs Data
(RTTNews) - The Canadian dollar firmed against its major counterparts in the New York session on Friday, following the release of stronger-than-expected jobs data for October.
The economy added 66,600 jobs in October, following a gain of 60,400 jobs in September. Economists had expected employment to drop to 2,500.
The unemployment rate fell to 6.9 percent from 7.1 percent. The rate matched expectations.
Investors expect the BoC to keep policy steady in December.
The loonie climbed to a 4-day high of 1.4027 against the greenback, 3-day high of 109.41 against the yen and a 2-week high of 0.9104 against the aussie. The loonie is seen finding resistance around 1.37 against the greenback, 111.00 against the yen and 0.89 against the aussie.
The loonie edged up to 1.6221 against the euro, from an early 10-day low of 1.6313. The loonie may find resistance around the 1.60 level.
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