MW: Canadian dollar rises after positive jobs data
By Polya Lesova
FRANKFURT (MarketWatch) -- The Canadian dollar rose 1% against its U.S. counterpart on Friday after data showed that Canada's employment rose by 79,000 jobs in November, bringing the unemployment rate down 0.1 percentage points to 8.5%. In October, employment decreased by 43,000 jobs. "Canada reported much stronger jobs data than the market expected, sending the Canadian dollar broadly higher," said analysts at Brown Brothers Harriman & Co. "However, the strong showing in Canada should not be seen as a hint or signal of what to expect from the U.S." The Labor Department will report U.S. non-farm payrolls for November at 8:30 a.m. Eastern.
