Canadian dollar rallies as unemployment rate hits sixteen month low
The Canadian dollar recovered weekly losses as the jobless rate hit a 16 month low. Rebounding stock markets and firm oil prices further supported the currency.
Insights:
The Canadian dollar strengthened against the U.S. dollar on Friday after mixed employment data from Canada 
CA for January showed a net loss of 24,800 jobs while the unemployment rate unexpectedly fell to a 16-month low of 6.5%. This report immediately influenced foreign exchange trading and coincided with gains in both the oil sector and the U.S. equity market .
CA for January showed a net loss of 24,800 jobs while the unemployment rate unexpectedly fell to a 16-month low of 6.5%. This report immediately influenced foreign exchange trading and coincided with gains in both the oil sector and the U.S. equity market .
