FXstreet.com (Córdoba) - The dollar slumped versus its Canadian counterpart and hit a fresh weekly low after that showed US economy created more jobs than expected last month, while Canada missed expectations. However, the CAD benefited as optimism was boosted by the US strong reading offsetting weak domestic data.
USD/CAD lost nearly 50 pips in a matter of minutes and hit its lowest since Nov 25 at 0.9936 before slowing the decline. At time of writing, USD/CAD is quoting at the 0.9940 zone, 0.3% below its opening price.
US economy created 171,000 jobs in October against 125,000 expected, while Canada only gained 1,800 versus 5,000 anticipated.
USD/CAD lost nearly 50 pips in a matter of minutes and hit its lowest since Nov 25 at 0.9936 before slowing the decline. At time of writing, USD/CAD is quoting at the 0.9940 zone, 0.3% below its opening price.
US economy created 171,000 jobs in October against 125,000 expected, while Canada only gained 1,800 versus 5,000 anticipated.
