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USD/CAD jumps above 1.3620 after Canadian jobs disappoint

The latest Canadian jobs report has also just been released and it was in stark contrast to that just seen from the US. Canadian payrolls actually fell by 2.5k which was well shy of the 25k gain expected. What was probably worse, was that the unemployment rate rose to 6.1%, from 5.8%. That was particularly poor. The reaction in the USD/CAD has seen it spike sharply above 1.36 and in the process taken out some of the major levels mentioned here in previous reports, at 1.3614 and 1.3619. It is yet to tackle the last of those, at 1.3623, but it looks like it could easily do so. The outer point here, is the strong US report supporting the US dollar, at the same time as this Canadian report has an opposite impact on that currency. The USD/CAD is currently trading at 1.3612
 

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