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USD/CAD falls as Canadian payrolls top forecasts

The April Canadian jobs report has just been released. As covered here earlier today, the markets were expecting a slight increase in the underlying rate, to 6.2% from 6.1%. The actual rate just released remained at 6.1%. The overall payroll count was expected to increase by 20k. It has actually beaten that significantly, rising by 90.4k. The annualised wage rate was forecast to drop back to 4.7% from 5%. It has  just been released at 4.8%. Full time jobs eclipsed part time jobs too, so the USD/CAD has fallen immediately upon seeing this data. The USD/CAD was trading at 1.3680 ahead of the data, it is now trading at 1.3650
 

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