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Contrasting jobs data sees USD/CAD fly -The...>

FOREX
FOREX: Contrasting jobs data sees USD/CAD fly
-The US jobs report was unequivocally strong - headline jobs added topped
expectations by a decent margin (266k vs. Exp. 180k), the unemployment rate
unexpectedly fell by 0.1ppt and average hourly earnings, particularly the
unrounded number, held up well. This underpinned a decent surge in the
greenback, most notably against the JPY and EUR, while 10y yields climbed to a
three-week high. The move was somewhat shortlived however, as focus returned to
the lack of encouraging trade deal news from a subsequent press appearance from
Trump's economic advisor Kudlow. This stymied USD's climb, keeping NZD and AUD
as the top performers of the day.
-Canada's equivalent report, in contrast, disappointed, with most major metrics
well below forecast. USD/CAD had a ~70 pip rally, calling into question the
post-BoC decision CAD strength.
-There are a number of major macro events in the coming week. Namely, the Fed &
EC decisions, the UK General Election and the possible installation of higher
tariffs on China in what's likely to be a volatile week.

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