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Canadian Dollar Appreciates After Strong Jobs Data
(RTTNews) - The Canadian dollar firmed against its major counterparts in the New York session on Friday, following the release of strong domestic jobs data for January.
Data from Statistics Canada showed that the employment increased by 150,000 jobs in January, after rising by 104,000 jobs in the previous month. Economists had expected employment to climb by 15,000 jobs.
The unemployment rate held steady at 5 percent in January. The rate was expected to rise to 5.1 percent.
The loonie touched 1.4276 against the euro, its strongest level since January 9.
The loonie was up against the aussie, at a 3-day high of 0.9271.
The loonie recovered to 97.99 against the yen, from an early 1-week low of 96.63.
The loonie advanced to a 1-week high of 1.3353 against the greenback, off an early 4-day low of 1.3472.
The loonie is likely to challenge resistance around 1.40 against the euro, 0.90 against the aussie, 100.00 against the yen and 1.30 against the greenback.
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