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FxWirePro : USD/CAD falls as strong Canadian jobs data lifts loonie
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EconoTimes RSS
• USD/CAD slipped lower as Canadian dollar firmed after Canada’s labour market roared back with biggest-than-expected July hiring.
• Canada's economy added significantly more jobs than expected in July, while the unemployment rate fell to a two-year low, highlighting the labour market's resilience despite ongoing U.S. tariff pressures and global economic uncertainty.
• Statistics Canada reported that employment increased by 75,100 positions in July, supported by strong gains in both full-time and part-time jobs.
The unemployment rate declined for a third consecutive month, falling from 6.5% to 6.4%, its lowest level since July 2024.
Recommendation: Good to sell around 1.3950 with stop loss of 1.4050 and target price of 1.3900