11 Jul 2014
Loonie suffers after dismal jobs report
FXStreet (Córdoba) - The loonie was crushed across the board after data showed Canada unexpectedly shed jobs in June. Employment in Canada fell 9,400 in June, versus market expectations for a gain of 20,000, while the unemployment rate rose to 7.1% from the previous month's 7.0% reading.
The EUR/CAD rallied nearly 100 pips toward a fresh 1-week high of 1.4558, and it was last up 0.45% at 1.4555, on track to post the first weekly gain in over a month.
As for the CAD/JPY, the pair slumped on the data and touched a 3-week low of 94.57 and headed for its first drop in 5 weeks.
The EUR/CAD rallied nearly 100 pips toward a fresh 1-week high of 1.4558, and it was last up 0.45% at 1.4555, on track to post the first weekly gain in over a month.
As for the CAD/JPY, the pair slumped on the data and touched a 3-week low of 94.57 and headed for its first drop in 5 weeks.