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Hawkish Reaction To Strong Labour Report

CANADA
  • CAD assets see a hawkish reaction with every main aspect of the Canadian labour report stronger than expected at first glance.
  • USDCAD initially drops 45 pips to 1.3635, hitting support at 1.3634 (50-day EMA) before climbing 10 pips.
  • GoC yields spike with 2s +5bps since the report and climbing.

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