Canadian Dollar Climbs On Solid Jobs Data
10 Settembre 2021 - 12:04PM
RTTF2
The Canadian dollar advanced against its major counterparts in
the European session on Friday, as the nation's job growth improved
in August, albeit at a softer pace than forecasts, and the jobless
rate fell to the lowest level since February 2020.
Data from Statistics Canada showed that the economy added 90,200
jobs in August, after a gain of 94,000 jobs in July. Economists had
expected employment to rise by 100,000 jobs.
The unemployment rate fell to 7.1 percent in August from 7.5
percent in July. The rate was forecast to fall to 7.3 percent.
Oil prices rose on signs of tightening supply due to the impact
of Hurricane Ida in the Gulf of Mexico.
Trade worries eased following talks between U.S. President Joe
Biden and his Chinese counterpart Xi Jinping, helping lift
sentiment.
Extending early rally, the loonie hit a 3-day high of 1.4883
against the euro. On the upside, 1.46 is possibly seen as its next
resistance level.
The loonie appreciated to 3-day highs of 1.2583 against the
greenback and 0.9314 against the aussie, up from its previous lows
of 1.2673 and 0.9344, respectively. The loonie is seen finding
resistance around 1.22 against the greenback and 0.92 against the
aussie.
The loonie rose to a 2-day high of 87.31 against yen, from a low
of 86.55 seen at 5 pm ET. Immediate resistance awaits near the
90.00 region.
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