CANADA FX DEBT-Jobs data lifts C$ to its strongest week in 5 months


09/02/2014 09:25 AST

The Canadian dollar rose against the greenback on Friday, giving it its biggest weekly gain in five months, after a rebound in domestic hiring in January cooled speculation that the central bank will cut interest rates.

Data showed the Canadian economy added 29,400 jobs in January after losing 44,000 jobs in December, while the unemployment rate fell to 7.0 from 7.2 percent.

It was the largest employment gain since August and beat market expectations for about 20,000 new hires. Full-time positions had the largest increase since last May.

"(It) dampens expectations of the possibility of the Bank of Canada having to cut rates. But certainly with inflation remaining low, there's no pressure to start moving rates higher," said Paul Ferley, assistant chief economist at Royal Bank of Canada.

For more on this Click Here

Reuters
Forex News
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 146 148,595
DARTAKAFUL 1.22 13,774,341
ALMARAI 72.07 118,921
SABIC 96.32 8,260,066
RIBL 10.28 867,413
NBAD 11.2 5,696,134
EEC 20.69 1,320,869
Recent News

Dubai Investments increase cash dividend to 12%
Dubai Investments said on Tuesday the shareholders unanimously agreed to increase the cash dividend to 12 per cent from the earlier 10 per cent including a 5 per cent bonus shares. “Some shareholder

GFH distributes quarterly dividends to investors
GFH Capital said on Tuesday the recent distribution of quarterly dividends for a number of its investments and funds in line with its continued progressive dividend policy.

These include dis

Shuaa eyes acquisition after swinging to net profit in first quarter
Shuaa Capital swung back into net profits its chairman said on Tuesday, after registering losses in the past seven quarters. They also announced they are planning to buy a listed financial services f

Nasdaq breaks historic 6,000 barrier
Stock markets mostly rose Tuesday following the previous session’s record runs triggered by the first-round result of France’s presidential election.

Gains were strongest in the US, where t

Tourism key for growth and diversification in MENA
Tourism can be a key driver of the growth and economic diversification for the Middle East and North Africa region, concluded the 2017 Ministerial Forum organised by the World Tourism Organisation (U

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?