Breaking: Unemployment Rate in Canada declines to 7.1%, USD/CAD trades below 1.2600

The Unemployment Rate in Canada declined to 7.1% in August, compared to analysts' estimate of 7.3%, from 7.5% in July with the Net Change in Employment rising by 90.2, Statistics Canada reported on Friday.

Market reaction

With the initial reaction, the USD/CAD pair dropped to a daily low of 1.2585 and was last seen losing 0.55% on the day at 1.2592.

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