Loonie rises on strong jobs data

The Canadian dollar rose against greenback today amid hopes about the US-China trade talks in addition to the release of strong Canadian labor market data.

The Canadian national statistical agency showed today the addition of 53.7K new jobs in Sept, more than forecasts of 11.2K.

The official data also showed that the  unemployment rate fell to 5.5%, better than forecasts to stabilize at 5.7%.

A new round of the US-China trade talks launched yesterday in Washington, amid hopes about a potential deal that will end the ongoing trade war between the two countries.

President Trump will meet with the Chinese Vice Premier Liu He at the White House today, which raised expectations that this round will deliver tangible results,

As of 16:00 GMT, CAD/USD rose by 0.8% to $0.7591, with a session-high of $0.7597 and a low of $0.7514.