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10 Feb 2014
USD/CAD climbs after Friday's CAD rebound
FXStreet (London) - USD/CAD remains in bullish territory after weaker than expected Canadian housing starts.
Slowing house starts
Data from Canada Mortgage and Housing Corp. estimates there were 11,737 actual starts in January. The seasonally-adjusted 180,248 starts down from 187.144 in December.
Nationally, urban starts decreased by 2.7 per cent in January to 163,158 units on an adjusted annual basis.
Improved jobs numbers
The Canadian dollar was give a boost on Friday after jobs numbers beat expectations.
Canada gained 29,400 jobs in January, with the unemployment rate falling 0.2 percentage points to 7.0 percent, according data released by Statistics Canada on Friday. The stronger than expected numbers pared bets the the Bank of Canada would move to further cut rates to deal with the broad Canadian slowdown.
USD/CAD is currently trading at CAD1.1046, up 0.07 percent on the session, climbing slowly from the opening of CAD1.1039.
Slowing house starts
Data from Canada Mortgage and Housing Corp. estimates there were 11,737 actual starts in January. The seasonally-adjusted 180,248 starts down from 187.144 in December.
Nationally, urban starts decreased by 2.7 per cent in January to 163,158 units on an adjusted annual basis.
Improved jobs numbers
The Canadian dollar was give a boost on Friday after jobs numbers beat expectations.
Canada gained 29,400 jobs in January, with the unemployment rate falling 0.2 percentage points to 7.0 percent, according data released by Statistics Canada on Friday. The stronger than expected numbers pared bets the the Bank of Canada would move to further cut rates to deal with the broad Canadian slowdown.
USD/CAD is currently trading at CAD1.1046, up 0.07 percent on the session, climbing slowly from the opening of CAD1.1039.