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Canadian unemployment falls as payrolls beat forecasts- USD/CAD falls

The Canadian January jobs report has also just been released. As noted here earlier, the markets were forecasting a more modest rise in payrolls last month, of around 25k. The actual number is a rise of 76k. The unemployment rate also fell back, to just 6.6%, which was well below consensus. The majority of the jobs created were part-time though and that is something of a dampener. Prior to the data, the USD/CAD had lifted higher from the time of the last update here. It had risen to 1.4345, but was hit by a sudden relapse to around 1.4320 just  before this data dropped across the screens. It seems to this trained eye that someone might have got wind of the number before the rest of us, but of course that can never be proved. Anyway the USD/CAD fell back to 1.4290 on the news, but that is the extent of the drop so far. It is right now at 1.4293
 

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