BREAKING: Canadian employment change much stronger than expected. USDCAD loses 📉

Canadian employment change in September came in 46.7k vs 27k exp. and 22.1k previously

• Unemployment unexpectedly dropped to 6.5% vs 6.7% exp. and 6.6% previously
• Participation rate came in 64.9% vs 65.1% exp. and 65.1% previously

Despite stronger than expected Canadian labor market data, USDCAD is pressured by higher than expected US PPI reading.

Source: xStation5