Canadian Dollar market flows turn bullish following US & Canada labor data prints. Canada Unemployment Rate flat at 5.5%, US unemployment holds at 3.8%. US NFP handily beats expectations with slightly softer earnings. nfarm Payrolls reading for the US Dollar mixing with misses on hourly wages and unemployment.
The Nonfarm Payrolls component specifically measures the change in the number of people employed in the US during the previous month, excluding the farming industry. How does Nonfarm Payrolls influence the Federal Reserve monetary policy decisions? The Nonfarm Payrolls figure can influence the decisions of the Federal Reserve by providing a measure of how successfully the Fed is meeting its mandate of fostering full employment and 2% inflation.
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Canadian Dollar steps back up to the plate, holding steady on shared data beats with the USThe Canadian Dollar (CAD) is finding some much-needed support in Thursday trading, swapping with the US Dollar (USD) after both currencies strengthene
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