The U.S. dollar was seen giving up some of the gains posted from earlier in the week by Friday’s close. Economic data on Friday was limited to Canada’s jobs report which was the main highlight. Data showed that the Canadian labor market shed 1,100 jobs against median estimates of an increase of 17.8k jobs. The decline in the jobs in April comes after March’s gain of 32.3k.
The Canadian unemployment rate was seen holding steady at 5.8% unchanged from the previous month. Wage growth was seen making strong inroads.
The U.S. import price data was also released on Friday which showed an increase of 0.3% following a decline of 0.2% the month before. This was however below the median estimates of a 0.5% increase.
Looking ahead, the economic data is quiet today with the exception of FOMC Member, Loretta Mester who will be speaking at an event today.
