Canadian dollar jumps more than half a cent on strong October job data

November 7, 2014

The Canadian dollar surged more than half a cent as Canadian job creation figures for October blew past expectations.

The loonie was ahead 0.56 of a cent to 88.08 cents US after Statistics Canada reported that the economy created 43,100 jobs last month.

Analysts had forecast a loss of about 5,000 jobs after the economy cranked out 74,000 jobs in September.

The Canadian umemployment rate fell to the lowest since November 2008, dropping sharply to 6.5 per cent from 6.8 per cent in September...

This has been excerpted from 7 November 2014 article by the Canadian Press.

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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