Loonie Advances on Employment and ECB OMT

Canada’s dollar gained to a more than four-month high versus its U.S. peer as stocks and oil rose amid data suggesting U.S. job growth is accelerating and after European officials announced bond-purchasing plans.
The currency strengthened against the majority of its 16 most-traded counterparts after fewer Americans than forecast filed applications for unemployment benefits last week and ECB President Mario Draghi said policy makers had agreed on an unlimited debt-buying program. Canada’s dollar rose before reports tomorrow that are forecast to show the nation’s employers added jobs in August after a decline the prior month.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza