Forex

Loonie edges lower after disappointing unemployment data

2020-07-10 18:48:40 GMT (Economies.com)

The Canadian dollar slipped on Friday following the release of mixed data on the Canadian jobs market.

 

The Canadian economy has added 952.9K new jobs in June, beating forecasts of 700K jobs.

 

Canada's unemployment rate fell to 12.3% from 13.7% in May, which is worse than forecasts of 12%.

 

The Canadian Prime Minister "Justin Trudeau" has announced that his country has already controlled and contained the virus "Corona" compared to what the United States suffers from.

 

Coronavirus infections rose to more than 12 million confirmed cases worldwide, and the death toll of 553,000 victims, with three million confirmed cases in the US alone.

 

As of 16:14 GMT, CAD/USD fell 0.2% to 0.7348, after hitting a high of 0.7367 and a low of 0.7335.

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