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USDCAD Boosted By Non-farm Payrolls And Falling Crude – Call Options Can Be Bought -

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    • USDCAD Boosted By Non-farm Payrolls And Falling Crude – Call Options Can Be Bought
Oct, 07th 17:06

USDCAD

USDCAD rallied to the highest level since mid-March, even after monthly U.S jobs data came out weaker than expected. According to the NFP Report, there were 156,000 jobs added in September, with unemployment rate rising to 5% from 4.9% in August, as more people entered the labour force looking for work.

Economists had expected a 172,000 gain in new jobs. However, today’s jobs number is considered to large enough to keep the Fed on course towards raising rates in December. Federal Reserve vice chair Stanley Fischer claimed that the result reflected an economy that is moving ahead but not too fast to pose risks.

In sharp contrast, the commodity dependent Canadian Dollar was hit hard in the face of plunging oil prices. Crude oil plummeted steeply on Friday as investors took profits ahead of the long weekend, after a strong rally over the past few trading sessions.

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