Forex | Forex | Forex: USD/CAD falls to trade below 1.0950 after the Canadian unemployment rate (04/09/2009 11:14:00)

Forex: USD/CAD falls to trade below 1.0950 after the Canadian unemployment rate

FXstreet.com (Barcelona) – The Canadian Dollar has continued with its advance against the USD after the better than expected employment report in Canada. USD/CAD has fallen around 60 pips in the minutes following the report from 1.0980 to break 1.0950, MA200 level in hourly chart, and post 1.0920 as fresh intra-day low.

Currently the pair is trading around 1.0925/35, 0.80% below today's opening price action at 1.1020. USD/CAD is continuing, thus, with its decline from yesterday's highest leve at 1.1075 to trade around initial levels of the current week.

Canada has published a net change in employment of 27.000 new jobs created in August, better than 7.400 jobs losses in the July net change. Market expected a decline of 20.000 jobs in August.

Unemployment rate in Canada has risen to 8.7% in August from 8.6% in July, despite it is a increase, data shows a better number than 8.8% expected by market.
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