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  • Private sector employment in Canada increased modestly in November.
  • USD/CAD stages a modest rebound in the early American session.

Private sector employment in Canada increased by 40,800 jobs from October to November, the ADP Research Institue revealed in its monthly report on Thursday.

On a negative note, the previous reading got revised down to -383,500 from -79,500.

Commenting on the data, “the job market posted employment growth in November,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Job gains were seen in the professional services and finance and trade sectors as a result of the ease of restrictions on businesses and social activities.” 

Market reaction

The USD/CAD pair edged higher after this report and was last seen trading at 1.2715, where it was still down 0.2% on a daily basis.