Canadian Dollar Strengthened After Release of Data on Labor Market

Market Reviews

The Canadian dollar rose after strong economic data. Labor market in Canada rose by 79.5 thousand in November, more than the forecast of 10 thousand. The unemployment rate also fell to 5.9% from 6.3%. Canada's GDP grew by 0.2% mom in September, exceeding expectations of 0.1% mom.

Activity in the industrial sector of the UK showed the fastest growth in more than four years in November. The Purchasing Managers' Index (PMI) for manufacturing in the UK rose to 58.2 in November from a revised figure of 56.6 a month earlier.

The Eurozone Manufacturing PMI rose to a record high of 60.1 in November from 58.5 in October. Economists had expected growth of the figure to 60.0. The PMI Manufacturing in the Germany increased to 62.5 in November from 60.6 in October.