The Canadian Dollar (CAD) eased lower after better-than-expected US NFP numbers.
Canada saw an upswing in Ivey PMIs, but was passed over by market watchers.
A firm jump in US NFP jobs additions toppled rate cut hopes to wrap up the trading week.
The Canadian Dollar (CAD) slipped further on Friday, driven lower by a broad-market extension of recent Greenback bidding that sent the US Dollar higher across the board after US Nonfarm Payrolls (NFP) figures widely outran expectations.
Canada’s Ivey Purchasing Manager’s Index (PMI) recovered in September, but the Canadian datapoint was swept aside by investors fully focused on US payrolls data. US NFP net job additions came in well above expectations in September, with upside revisions to several month’s of jobs figures. The rapid shift in the market’s outlook of the US labor market has widely shifted rate market bets of November’s Federal Reserve (Fed) rate cut.
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