The Fusion Media Network: |
 |
Welcome,
Guest!
- BROKERS
Main Directory Promotions Interviews Compare Demo Accounts Live Accounts Special Offer - SOFTWARE
Main Charts Signals Trading Platforms - FUND MANAGERS
Main Interviews - EDUCATION
Main - MEMBERSHIP
Technical
Central Banks
Forex Brokers
Trading Tools
Employment boost for Canadian dolla
By: Tim Clayton - 02-11-2007
0votesThe Canadian employment data was much stronger than expected with an employment increase of 63,000 for October while the unemployment rate fell to 5.8% from 5.9%. Within the employment data, there was a robust 35,500 increase in full-time jobs. In response, the Canadian dollar has tested fresh post-1970 highs against the US currency with gains to 0.9375.
The government and Bank of Canada are certainly very concerned over the impact of Canadian dollar strength on the manufacturing sector. Finance Minister Flaherty has also expressed concern that the currency appreciation is being led by speculation.
While employment data remains so strong, the Bank of Canada will find it very difficult to justify a short-term cut in interest rates to help alleviate currency strength and this will provide further short-term support
Next Analysis: Erratic data unsettles dollar
Become a member and get 6 free Forex courses by OTA! - Charts
- Survey
What do you hope to improve ?
Browse The Entire ForexPros.com Site:
News
Quotes
Forex Analysis
Forex Brokers
Forex Software
Live Events
Charts
Fund Managers
Education
Forex Forums
Languages
