Lost in the Market Angst: A Dramatic Improvement in Canadian Employment

(This is an excerpt from an article I originally published on Seeking Alpha on October 12, 2014. Click here to read the entire piece.)

Suddenly, I am feeling a lot less bearish about the Canadian dollar (FXC).

{snip}

This means that half the job creation over the past year happened all in one month. What was so special about September? Broad-based gains in employment across the economy: {snip}

The employment numbers were also molded by some dramatic demographic shifts. {snip}

The currency market was clearly unimpressed as the CurrencyShares Canadian Dollar ETF (FXC) dropped a fraction of a percent, hovering just above 2014 lows.


The Canadian dollar failed to gain from an incredibly strong employment report
The Canadian dollar failed to gain from an incredibly strong employment report

Source: FreeStockCharts.com

I am not inclined to suddenly reverse from a bearish to a bullish bias on the Canadian dollar until I see more follow-through on the economic data. It is of course very possible that this incredibly strong employment report was an aberration. {snip}

Be careful out there!

Full disclosure: no positions

(This is an excerpt from an article I originally published on Seeking Alpha on October 12, 2014. Click here to read the entire piece.)

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