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Canadian dollar stabilizes after sharp slide
Canada’s releases the July employment report on Friday and June’s stellar data will be hard to beat. The economy created 59,900 jobs in June, driven by a massive gain of 109,600 full-time jobs (part-time jobs fell by 49,800). The consensus estimate for July stands at 21,100. The unemployment rate is expected to nudge up to 5.5%, compared to 5.4% in June. Unless the employment report delivers a huge surprise, it is unlikely to have much effect on the Canadian dollar. The Bank of Canada doesn’t meet until September 14th and will be keeping a close eye on employment and inflation reports ahead of the rate ... (full story)