I was checking out some currrencies I don’t normally look at and was surprised to see a jump in the CAD/JPY. It went from 116.780-ish at 2am (MST) to 119.300 by 9:30am (MST). That is a big jump!
I was wondering what sparked this jump.


it was about some basic fundamental data that came out today heavily in favor of CAD.

There was an employment situation report coming out at 7 AM EST and payrolls came out multiple times the ‘expected’ analyst guesstimate of around 15 thousand.

Keep in mind the fundamental background of a falling Dollar (due to market pricing in another USD rate cut later this month), a strong Canadian economy, high oil prices, the strong CAD strengthening trend, etc.

What happened today with CAD against all currencies is a great example of how fundamentals can influence currency rates. I recommend you look into what happened in more detail.