FXstreet.com (Barcelona) - The Canadian Dollar has continued with its advance against the USD after the better than expected employment report in Canada. USD/CAD has fallen around 60 pips in the minutes following the report from 1.0980 to break 1.0950, MA200 level in hourly chart, and post 1.0920 as fresh intra-day low.
Currently the pair is trading around 1.0925/35, 0.80% below today's opening price action at 1.1020. USD/CAD is continuing, thus, with its decline from yesterday's highest leve at 1.1075 to trade around initial levels of the current week.
Canada has published a net change in employment of 27.000 new jobs created in August, better than 7.400 jobs losses in the July net change. Market expected a decline of 20.000 jobs in August.
Unemployment rate in Canada has risen to 8.7% in August from 8.6% in July, despite it is a increase, data shows a better number than 8.8% expected by market.