USD/CAD plummets on Canadian jobs report
Canadian jobs market is on fire
By the numbers:
Job creation flew by market expectations in July as large gains in part-time and public sector positions helped push down the unemployment rate by two-tenths.
Canada added a net +54.1K jobs in July on a seasonally adjusted basis. The market was looking for a net gain of +17K.
Canada’s new jobless rate fell to +5.8% in July, down from +6% in June. The market was looking for an unemployment rate of +5.9%.
The loonie is off from its intraday low of C$1.3122 and currently trading C$1.3062 immediately after the release.