Canada gained +95K jobs in May, far better than +15K expected. The figures are quite volatile. The unemployment rate dropped from 7.2% to 7.1%.
USD/CAD is lower, also enjoying the weaker post-NFP US dollar. Update: the dollar is going in all directions, but the loonie remains strong thanks to this great report.
Canada gained 76.7K full time jobs, more than double the previous gain. The rest are part time jobs: +18.2K. Last time Canada lost the 23.6% part time jobs. Labor productivity rose by 0.2%.
The US reported a gain of 175K jobs and saw an unemployment rate of 7.6%.
USD/CAD dropped as low as 1.0166 before bouncing back above 1.02. The pair now moves according to the swings in the USD, but as aforementioned, the loonie has an advantage over other currencies.
For more levels, see the Canadian dollar forecast.
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