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Today's NFP numbers were below expectations, as 156K new jobs were added in August, as compare to 180K expected. Moreover, the trend in last couple of months were above 200K. Furthermore, average hourly wages increased to 0.1% and unemployment rate increased to 4.4%, so overall a disappointing numbers, which will put more pressure on US Dollar.
We have seen rapid decline on USDCAD in last 4 months as the pair dropped around 1400 pips. Further decline is expected in coming months, as Canadian economy is going from strength to strength, whereas US economy is showing signs of weakness.
We have seen rapid decline on USDCAD in last 4 months as the pair dropped around 1400 pips. Further decline is expected in coming months, as Canadian economy is going from strength to strength, whereas US economy is showing signs of weakness.
