USD/CAD Soars, Canadian Unemployment Rises

USD/CAD is trading at 1.3142, up 0.0126. The pair has surged higher in rapid fashion. Market chatter about Canada's economy and U.S. economic data is making the rounds. Statistics Canada reported that July unemployment rose to 6.9 percent versus 6.8 percent in June and 31,200 jobs were lost. The agency reported a merchandise trade deficit of 3.63 billion CAD in June versus 3.50 billion in May The Richard Ivey School of Business IVEY PMI (purchasing managers survey) is due out at 10:00 a.m. ET.