Yahoo Finance's Julie Hyman breaks down Friday’s business headlines. Read More...
Reuters
Canadian dollar posts 2-month high as jobs surge ‘seals’ October taper
The Canadian dollar on Friday rose to its highest level in more than two months against the greenback as data showed Canada regaining all the jobs it lost since the start of the pandemic, supporting further cuts to Bank of Canada bond purchases. The Canadian economy posted a monster gain of 157,100 jobs in September, almost three times the number expected, and the unemployment rate hit an 18-month low of 6.9%, Statistics Canada data indicated. “While the headline print likely seals the deal for another taper from the Bank of Canada later this month, there’s still a ways to go to fully heal the labour market,” said Royce Mendes, a senior economist at CIBC Capital Markets.
