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Forex Flash: Weak-ish Canada jobs data raises caution for BoC rates – TD Securities

TD Securities say that data releases from China (somewhat distorted by seasonal factors) and the modestly better bid tone for European stocks have not had that much impact on the CAD, that has been tracking the USD’s moves against the other majors step for step.

Employment change in Canada came in at -21.9K in January, disappointing a consensus of +5K and erasing much of December's 39.8K added jobs. "A weak-ish employment report will support the more cautious outlook for rates delivered by the BoC last month and should be a modest drag on the CAD’s performance at least", wrote analysts Shaun Osborne and Greg Moore, concerned by Canada’s persistent trade deficits, however, and the uncomfortably large current account deficits (in the region of 3.5%/GDP) that result.

Forex: EUR/HUF extends its downside, around 291.30

The Hungarian forint is prolonging its appreciation against the single currency on Friday after the trade surplus in Hungary decreased to €192.3 million during December from €659.5 million in the previous...
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American equity markets open positively Friday

The US Stock market experienced a slightly positive opening Friday after the publication of economic data in the United States. In the US, the Trade Balance (December) came in at S-38.54B, much less than estimates calling for S-45.8B.
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