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US jobs miss takes the heat out of bad Canadian numbers too-USD/CAD falls
The reaction to the weaker than expected US jobs report has seen the dollar fall across the board, as was just noted in the previous update. Even the USD/CAD has fallen back too, despite an equally disappointing Canadian jobs report as well. Canada added just 17.5k payrolls in October and the unemployment rate there also ticked higher. to 5.7% from 5.5%. Now, arguably that was a worse outcome than the US, but it has not stopped the USD/CAD from falling on the news. The USD/CAD was trading at around 1.3745 ahead of this. It has just now fallen to a session low at 1.3705 Does that make a lot of sense? Well, not really, but as I said the US dollar is the one feeling the heat everywhere right now. The USD/CAD is currently trading at 1.3710
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