The U.S. dollar fell slightly against a basket of currencies after U.S. employment data bouncing back from an uptrend line on the 1 hour time frame, currently trading at 95.66 and approaching to end the week at a 6-week high.
The U.S. economy slowed in job creation in September with only 134,000 jobs below expectations, while unemployment fell to a 48-year low at 3.7% and average wages rose by 0.3 percent on a monthly basis and by 2.8 percent on yearly basis.
The data confirm the strength of the labor market in the United States and also confirm that the Fed remains on the path of gradual rate hikes.
On the other hand, the Canadian economy added 63.3 thousand jobs in September after losing 51.6 thousand jobs in August, while unemployment fell to 5.9% as expected, Canadian dollar rose slightly after the data but quickly fell against the U.S. dollar to levels of 1.2940.
