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Canadian unemployment falls to 6.5% in September- USD/CAD slides to 1.3725
The September Canadian jobs report has just been released and it has beaten forecasts in terms of the underlying rate and the number payrolls. Payrolls actually increased by 46.7k and the underlying rate fell to 6.5%, where the markets had expected a rise to 6.7%. Understandably the USD/CAD has fallen back sharply on this. The USD/CAD was trading close to 1.3780 ahead of this report. It has now dropped back to set a new session low at 1.3725. This data has certainly surprised the markets and looks like it has brought to an abrupt halt the rise in the USD/CAD from below 1.35 in recent days. The USD/CAD is currently trading at 1.3738
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