Monday, 12 September 2011

Canadian Dollar Falls with Employment

The Canadian dollar for a second day today against its U.S. counterpart and the Japanese yen, towards parity with the dollar after the report showed that employment in Canada fell and unemployment rate unexpectedly rose last month. The currency managed to gain against the euro.

Statistics Canada reported today that the number of employed persons decreased in 5500 in August after increasing in July 7100. The most optimistic forecasts are thus promising an increase of 24,200. Increase the unemployment rate by 0.1 percent to 7.3 percent.

The Standard & Poor's 500 fell to 3 percent, while S & P / TSX Composite Index fell 2.2 Canadian cent.

The mood was depressed markets as talks abound that Greece may leave the eurozone. The negative sentiment pushed the loonie (the Canadian currency's nickname) down against the U.S. dollar. UU. and the yen, but were allowed to exceed the euro.

USD/CAD jumped from 0.9893 to 0.9967 as of 20:41 GMT today. CAD/JPY fell from 78.28 to 77.75 after touching the intraday low of 77.31. EUR/CAD fell from 1.3732 to 1.3606.

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