BMO Capital Markets: Canadian Employment Data

Canadian employment data: TORONTO - The Canadian dollar dropped to its lowest against the U.S. dollar in almost two weeks after Canadian employment data showed fewer jobs gains than expected in April, erasing a week of strong gains by the currency. , according to Reuters. "The report on balance was probably slightly softer than expected, so it's not a big surprise that we saw a bit of a sell-off of the Canadian dollar , but it does not change our bigger view of the Canadian economy and what the Bank of Canada is going to do," said Robert Kavcic, senior economist at BMO Capital Markets. By Andrea Hopkins The Canadian economy added 12,500 jobs last month, clawing back some of the 54,500 jobs lost in March, but the unemployment rate stayed at 7.2 percent, Statistics Canada reported. A survey of economists had forecast 15,000 new jobs. (www.immigrantscanada.com). As reported in the news.