Canadian Dollar Surges Against Rivals On Employment Numbers

The Canadian dollar surged against its rivals Friday after data showed Canada's unemployment rate fell to 6.8% in September, its lowest level since December 2008. Canada's employment numbers are notoriously volatile, but the number beat expectations by such a wide margin that a big response by the currency was inevitable. The report showed 74,000 jobs were created in September, more than double expectations. The loonie, as the Canadian dollar is known, traded at 89.45 cents Friday morning, compared to 89.42 cents late Thursday.