CAD flows: CAD rises after better employment data

The Canadian employment data has come in significantly stronger than expected, with a notable drop in the unemployment rate against a market expectation of a rise, as well as an above consensus rise in employment with an even larger rise in full time employment. This shows similarities to the strength of the US September numbers, but in any case justifies more of a CAD recovery than we have so far seen. USD/CAD has dipped around 30 pips from pre-data levels to 1.3750, but there may be scope to 1.37