Canadian Dollar Rallies After Upbeat Jobs Data
11 Marzo 2022 - 11:12AM
RTTF2
The Canadian dollar spiked up against its major counterparts in
the New York session on Friday, as strong jobs data for February
raised hopes for another rate hike by the Bank of Canada at its
meeting next month.
Data from Statistics Canada showed that employment jumped by
336,600 jobs in February after falling by 200,100 jobs in January.
Economists had expected employment to rise by 160,000 jobs.
The unemployment rate fell to 5.5 percent in February from 6.5
percent in January, while economists had expected the unemployment
rate to drop to 6.2 percent.
Sentiment lifted up following Russian President Vladimir Putin's
remarks suggesting positive developments in talks with Ukraine.
In a meeting with Belarusian President Alexander Lukashenko,
Putin indicated about positive shifts in negotiations, but did not
provide more details.
The loonie was up against the greenback, at a 4-day high of
1.2695. The loonie is likely to face resistance around the 1.25
level.
The loonie touched a 3-day high of 1.3940 against the euro, up
from Thursday's close of 1.4005. On the upside, 1.36 is likely seen
as its next resistance level.
Extending its early rally, the loonie approached 92.08 against
the yen, which was its strongest level since January 12. If the
loonie rises further, 94.00 is possibly seen as its next resistance
level.
The loonie moved up to a 1-week high of 0.9300 against the
aussie from yesterday's close of 0.9387. The loonie is seen finding
resistance around the 0.92 level.
Grafico Cross US Dollar vs CAD (FX:USDCAD)
Da Mar 2024 a Apr 2024
Grafico Cross US Dollar vs CAD (FX:USDCAD)
Da Apr 2023 a Apr 2024