Statistics Canada said July employment unexpectedly rose by 75.1k, pushing the unemployment rate down to 6.4% from 6.5% in June, a two-year low. The Canadian dollar rallied to an intraday high, gaining as much as 0.5%. Canadian government bonds were initially sold after the print but later reversed into gains as markets also digested an unexpected decline in US payrolls. May–July employment rose a cumulative 181.1k, the largest three-month gain since tariffs on Canadian goods were imposed, signa

Statistics Canada said July employment unexpectedly rose by 75.1k, pushing the unemployment rate down to 6.4% from 6.5% in June, a two-year low. The Canadian dollar rallied to an intraday high, gaining as much as 0.5%. Canadian government bonds were initially sold after the print but later reversed into gains as markets also digested an unexpected decline in US payrolls. May–July employment rose a cumulative 181.1k, the largest three-month gain since tariffs on Canadian goods were imposed, signaling labour-market momentum may extend into Q3 after a Q2 rebound.