GFX Afternoon Update May 10 2013

The Canadian Dollar has weakened today with USD.CAD rising on the softer than expected Canadian Employment numbers, only 12,500 jobs were created after an expectation of 15k so slightly below the market perception, the unemployment rate was unchanged at 7.2%. These numbers include a rise in full time and public sector employment and a reduction in part time and private employment which is not the greatest recipe for future job growth.  The USD.CAD has leveled off and should trade in a narrow range heading into the weekend. 

The US Dollar is riding its strength after a weaker Yen pulled the US Dollar to higher levels again this morning. The US Dollar index has been moving up quickly, pushing above 83 continuing its movement upwards.