Canadian Labor Market Records Positive Performance - USD / CAD “Trend” Impressed ?!

 The Canadian economy recorded 378,200 job creation in September, most of them full-time jobs as reported by the Canadian Department of Statistics on Friday. On the other hand, the unemployment rate dropped to 9.0%.

Jobs in the manufacturing sector recorded an increase of 75,100 jobs covering almost the entire manufacturing sector. The services sector on the other side increased by 303,100.

The employment reading recorded today is much higher than economists expect, with only 156,000 jobs to be added in September and the unemployment rate to 9.7%.

The USD / CAD currency continued to decline to pars 1.3146 with a decline of 0.34% as of 10.00 p.m. The dollar is still moving positively is also driven by stability in the global crude oil market.

The Canadian dollar however maintained better trading performance against the US dollar with a 3-day decline appearing on the USD / CAD pair chart.