Canadian dollar rises after positive jobs data
The Canadian dollar rose against most currencies during on Friday, after the release of upbeat economic data on the jobs market in Canada.
Canadian Ministry of Labour today showed that the economy has added 54.7K jobs in December, beating forecasts of 24.5K jobs.
The unemployment rate fell to 5.9% last month, beating forecasts of remaining at 6% unchanged.
While the US Department of Labor reported that the economy has added 199K new jobs in December, less than forecasts of 430K jobs, while the unemployment rate fell to 3.9% from 4.2%.
This came amid lingering concerns about coronavirus and the increase in infections in many countries around the world.
As of 17:30 GMT, CAD/USD rose 0.5% to 0.7900, and hit a high at 0.7910 and a low at 0.7853
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