GBPCAD 9th NOVEMBER 2022
The employment gain was especially impressive as it was spread across the economy and was made up entirely of full-time jobs. The Bank of Canada, which hiked rates to 3.75% after a 50 basis point increase in late October is likely to respond with additional oversize hikes. This will certainly foster positive sentiment for the Canadian dollar to strengthen in market. Especially since market participants predicted a decline for this data.
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