NFP +104k, consensus was +8k (prev +10.1k)
Unemployment rate 5%, consensus 5.2%, previous 5.1%
Full-time employment +84.5K after 50.7K in November
A very strong report from Canada encounters only limited reaction in the USDCAD. The pair is turning lower from the resistance zone below 1.37, but does not make a move that looks like it could end a month-long consolidation. Meanwhile, the data, particularly a second month of strong full-time job gains, could push the Bank of Canada on a further tightening path.
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