The USD/CAD pair advances to near the round-level resistance of 1.4100 after the release of the labor market data for November from both economies: the United States (US) and Canada.
USD/CAD jumps to near 1.4100 after the release of the US-Canada employment data for November. US NFP came in higher-than-expected and the wage growth remained steady. Canadian job growth remained robust and the jobless rate accelerated sharply. The USD/CAD pair advances to near the round-level resistance of 1.4100 after the release of the labor market data for November from both economies: the United States and Canada.
The probability for the Federal Reserve to cut interest rates by 25 basis points has increased sharply to 90% from 71% recorded on Thursday after the release of the US NFP report, according to the CME FedWatch tool. On the Loonie front, fresh labor addition remained robust in November, while the jobless rate jumped to a record high since September 2021. The economy added 50.5K workers, significantly higher than estimates of 25K and the former release of 14.5K. The Unemployment Rate rose to 6.
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