USD/CAD retreats after a spike to 1.3520 following job reports – by MSalordFX USDCAD Currencies Canada Employment
in November was positive by 10.1K, against expectations of 5K. Full-time jobs increased by more than 50K. Wages rose 5.6% y/y.
The US Dollar jumped across the board as equity prices slide and US Treasury yields rose. The numbers keep the door open to more interest rate hikes. “The labor market remains far too hot for the Fed's liking, and it will take much slower growth in employment and wages to return inflation to the central bank's 2% target on a sustained basis”, mentioned analysts at Wells Fargo.The pair is hovering around 1.3470, up for the day but far from the daily high.
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