This Is Why The Canadian Dollar Is Suddenly Making A ‘Comeback’! - Kakiforex.com - Financial Market Media No. 1 in the World This Is Why The Canadian Dollar Is Suddenly Making A ‘Comeback’! This Is Why The Canadian Dollar Is Suddenly Making A ‘Comeback’!
InstaForex

July 10, 2021

This Is Why The Canadian Dollar Is Suddenly Making A ‘Comeback’!

 Canadian jobs data released on Friday showed additional jobs in June, far exceeding experts ’targets. This indirectly puts employment in the 1.8% level of pre-pandemic levels.


Canada managed to add 230,700 jobs in June, beating analysts ’expectations of 195,000, as civil restrictions eased in some counties based on a Statscan report. The unemployment rate fell 0.1% from the target with a reading of 7.8% in June.


According to Derek Holt, vice president of Capital Market Economics at Scotiabank, the main report looks good but it is mostly driven by an increase in part -time employment,



Part -time employment has increased by 263,900 driven by a strong increase in youth. Full -time employment dropped by 33,200.


Ontario, Canada’s most densely populated district, relaxed several bans in June, allowing restaurant and supermarket businesses.


The Canadian dollar traded 0.3% higher at 1.2471 against the US Dollar as of 1.2494.