The Canadian Dollar rose markedly against the Greenback, as the country’s economic reports released were stronger that the US data. The USD/CAD exchange rate decreased 139 base points or 1.11% to the 1.2369 mark to proceed side move in the 1.2400 area.
Statistics Canada stated that the country’s economy added nearly 80K positions in December, owing to rising part-time employment, while the unemployment rate fell to the lowest level in 41 years of 5.7%. Canadian economy revealed unforeseen resilience by the end of the year, as released figures showed quick reduction of slack in the job market that may accelerate the anticipated pace of key interest rate hikes the Bank of Canada intends to implement.
