After a pause of one month in job gains, the Canadian economy is back on track and enjoys accelerated hiring. No less than 54.5K jobs were gained in May, much more than 15K expected. The unemployment rate remains at 6.5%, but the participation rate is on the rise: 65.6% to 65.8%. USD/CAD dropped to a [...]
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With the final seats being decided upon, we could get a less hung parliament than the one that was evident a few hours ago, when pound/dollar hit a low of 1.2635. While no party has an absolute majority, the Conservatives could continue governing. With 318 seats, May’s Tories could find support from the Northern Irish DUP [...]
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GBP/USD now trades at 1.2660, making a decisive fall to the downside. Further support awaits at 1.2615, followed by 1.2540. The low so far has been 1.2635, and it is not necessarily over. Exit polls pointed to a hung parliament and the real results gradually confirmed them. After 645 out of 650 of the seats [...]
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