Canadian Dollar Strengthens Amid Upbeat Jobs Data

RTTNews | 670 days ago
Canadian Dollar Strengthens Amid Upbeat Jobs Data

(RTTNews) - The Canadian dollar firmed against its major counterparts during the New York session on Friday, following the release of stronger-than-expected jobs data for August.

Data from Statistics Canada showed that the employment increased by 39,900 jobs in August, after falling by 6,400 jobs in the previous month. Economists had expected employment to rise by 15,000 jobs.

The unemployment rate held steady at 5.5 percent in August. The rate was expected to rise to 5.6 percent.

The loonie climbed to a 3-day high of 108.37 against the yen, reversing from an early 1-week low of 107.15.

The loonie advanced to a multi-week high of 1.4566 against the euro and a 3-day high of 1.3607 against the greenback, off its early lows of 1.4661 and 1.3689, respectively.

The loonie rose to 0.8705 against the aussie, off an early 3-day low of 0.8757.

The currency may challenge resistance around 110.00 against the yen, 1.44 against the euro, 1.33 against the greenback and 0.84 against the aussie.

read more
Bank Of Korea Keeps Rates Steady

Bank Of Korea Keeps Rates Steady

The Bank of Korea maintained its interest rate on Thursday as rising house prices and household debt pose risks to the financial stability amid escalating trade tensions weighing on economic growth outlook. The Monetary Policy Board decided to leave the Base Rate unchanged at 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point each in May and February.
RTTNews | 2h 39min ago
European Shares Set To Open Higher Despite Rising Trade Tensions

European Shares Set To Open Higher Despite Rising Trade Tensions

European stocks may open mostly higher on Thursday despite U.S. President Donald Trump escalating his tariff campaign, sending letters to six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
RTTNews | 3h 35min ago
European Economic News Preview: Germany Final Inflation Data Due

European Economic News Preview: Germany Final Inflation Data Due

Final inflation from Germany and industrial output from Italy are the top economic news due on Thursday. At 2.00 am ET, Destatis is scheduled to release Germany's final inflation data for June. Flash inflation showed that consumer price inflation eased to 2.0 percent from 2.1 percent in May.
RTTNews | 3h 56min ago