The Canadian dollar rose on Friday on news that the country unexpectedly created jobs last month and that its unemployment rate fell.
The loonie rose 0.5% against the US dollar and touched C$1.3067, from the day’s low of C$1.3158.
Employment rose by 48,000 in January, according to Statistics Canada, compared with economists’ expectations for a loss of 10,000 jobs. The report also showed that December’s employment figures were revised down to 46,100.
The unemployment rate slid by 0.1 percentage points to 6.8%. The report also showed that the labour force participation rate was largely unchanged from a year ago to 65.8%.
Story by ProactiveInvestors