The Canadian Dollar edged higher on Friday, as investors reacted to a set of mixed data releases from Canada.
Canadian Employment Change
In a report released by Statistics Canada, official data showed on Friday that Canadian employment change increased more-than-expected last month. Canadian employment change rose to a seasonally adjusted 19.4K, from the 15.3K recorded in February. Analysts had forecast Canadian employment change to increase 5.0K in March.
Canada’s Ivey PMI
In a report released by The Richard Ivey School of Business, data showed on Friday that Canada’s Ivey Purchasing Manager’s Index increased more-than-expected in March. Ivey PMI increased to 61.1, from February’s 55.0 reading. Analysts had predicted Ivey PMI to increase to 56.3 in March.
Canadian Unemployment
In a report released by Statistics Canada, official data showed on Friday that the rate of unemployment in Canada increased last month. Canadian unemployment rate increased to a seasonally adjusted 6.7%, from February’s 6.6%. Analysts had expected Canadian unemployment rate to increase to 6.7% in March.
Canadian Dollar Higher
In a volatile trading day which saw the release of US Jobs figures, the Canadian Dollar edged higher. The Loonie closed up 0.03% against its American cousin.
Anthony Young
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