Canada created 54,700 jobs in December, doubling the estimated 27,500. In November, the country posted a strong 153,700 jobs.
The Canadian unemployment rate has dropped one tenth, falling to 5.9% from 6% previously and forecast, down to its lowest level since February 2020. The participation rate has remained at 65.3%, as expected.
Finally, average hourly wages rose 2.7% in December, three tenths less than the 3% increase in November.
USD / CAD reaction
The USD / CAD has reacted to the good Canadian employment data and the weak American with a rebound of about 45 pips that first took it lower, hitting a three-day low at 1.2679, and then it returned to the zone. 1.2720 / 25. At time of writing, the pair is trading above 1.2718, shedding 0.07% on the day.
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