Forex – USD/CAD Trims Gains Despite Downbeat Canadian Jobs Data


© Reuters. Greenback pulls away from 6-week peak vs. loonie

Investing.com – The U.S. dollar trimmed gains against its Canadian counterpart on Friday, pulling away from a fresh six-week high despite the release of disappointing Canadian data as sentiment on the greenback was still broadly vulnerable.

was little changed at 1.2596 by 09:30 a.m. ET (13:30 GMT), off a six-week peak of 1.2681 hit earlier in the day.

Statistics Canada reported on Friday that the number of employed people declined by in January, confounding expectations for a 2,000 fall.

The unemployment rate ticked up to last month from 5.7% the previous month, compared to expectations for a rise to only 5.8%.

The greenback found some relief earlier, after the U.S. Congress managed to pass , ending a brief government shutdown.

The agreement will boost federal spending by almost $300 billion and suspend the debt ceiling for a year.

Government activities were temporarily shut down when a midnight deadline to pass the U.S. budget deal was missed on Thursday due to a prolonged speech by Senator Rand Paul, who said the bill would “loot the Treasury.”

The loonie was also steady against the euro, with at 1.5444.

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