BREAKING: Limited reaction to a very good Canadian NFT

NFP +104k, consensus +8k (previous +10.1k)

Unemployment rate 5%, consensus 5.2%, previous 5.1%

Full-time employment +84.5k after 50.7k in November

A very strong report from Canada is met with only limited reaction on the USDCAD. The pair is reversing down from the resistance area below 1.37, but not making a move that could wrap up a month of consolidation. Meanwhile, the data, especially a second month of strong full-time job gains, could push the Bank of Canada down a path of further tightening.

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