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Canadian dollar at 1-year high
 
 
October 9, 2009

 
The Canadian dollar rallied on Friday after the release of official 
figures that showed the Canadian economy added over 30,000 jobs in 
September and the unemployment rate surprised analysts by falling.
 
The Canadian dollar rallied on Friday after the release of official 
figures that showed the Canadian economy added over 30,000 jobs in 
September and the unemployment rate surprised analysts by falling.
Photograph by: National Post, National Post

LONDON -- The Canadian dollar rallied on Friday after the release of 
official figures that showed the Canadian economy added over 30,000 
jobs in September and the unemployment rate surprised analysts by 
falling.

The data pushed the U.S. dollar to a fresh one-year low of C$1.0455 
from around C$1.0500 just beforehand.

The creation of 30,600 jobs was way above the 5,000 analysts had 
expected, and the unemployment fell to 8.4% when the consensus view was 
for a tick up of a tenth of a percent to 8.8%.

The U.S. dollar's fall smashed a large option structure at C$1.0480 
expiring in a couple of weeks, which some thought could have provided 
support near C$1.05.