Daily Afternoon Report 09.06.2017

The U.S. dollar slid lower against its Canadian counterpart on Friday, as upbeat Canadian employment data lent support to the local currency, although lower U.S. political tensions also underpinned the greenback.

Statistics Canada reported that the number of employed people rose by 54,500 in May, beating expectations for an increase of 11,000 and after a 3,200 gain the previous month.

The unemployment rate ticked up to 6.6% last month from 6.5% in April, in line with expectations.

Meanwhile, the greenback regained some strength after former FBI director James Comey’s testimony on Thursday brought no surprising revelations.

Comey accused President Donald Trump of firing him to try to undermine his investigation into possible collusion by the Trump campaign team with Russia’s alleged efforts to influence the 2016 presidential election.