Canadian employment up by 28,400

Friday, 8 July 2011 03:16

Canada reported some unexpected good news as Employment change was released much higher than expected.  Employment rose by 28,400 while only 13,800 was forecasted by economists.  June's report of employment change was positive, as June had 28,400 inividuals employed during the past month while May had only 22,300.

The Unemployment Rate also remained the same at 7.4%.

USD/CAD reacted after the news by dropping the pair strengthening the Canadian Dollar slightly, against the U.S Dollar.  The pair dropped for a little while from 1.9590 (pior-news trading point) to 1.9568.

America is waiting for another important news release by Canada's neighbours, the U.S.