According to the latest ADP data, Canada added 39,400 jobs in October. This was the third consecutive monthly gain. The increase primarily came from the transportation, trading, utilities, and construction sectors. September’s gain was also revised up to about 41,000 from 9,600. CADUSD currently trades at 0.7938, up by 0.06%.
In Japan, higher energy costs have led to increases in consumer prices. In October, consumer prices, excluding those on fresh food, increased 0.1% on a yearly basis. Although the figure is far less dramatic than other developed countries such as the US, the surging oil cost has still posed a concern. To combat the economic distress and rising prices, Japan’s prime minister outlined on Friday a record 56 trillion-yen (~$490 billion) stimulus package to aid the economy. The proposal will be sent for Cabinet approval later in the day, but still needs parliamentary approval. USDJPY is currently trading at 114.32, up about 0.07%.