Close this search box.

Explore the world.

Assess underlying fundamentals and market conditions in the world's major economies.


Stay ahead.

Follow the biggest stories in markets and economics in real time.

Connect with us.

Learn more about Corpay Cross-Border and the currency research team.


Get insight into the latest trends and developments in global currency markets with breaking news updates and research reports delivered right to your inbox.

After signing up, you will receive regular newsletters from Corpay, and may unsubscribe at any time. View Corpay’s Privacy Policy

Market Wire: Hawkish Payrolls Report Lifts Dollar

Ahead of the release, investors were positioned for a 250,000-job gain, with the unemployment rate seen holding at 3.7 percent.

The dollar climbed on the print as interest rates rose slightly across the front end of the curve. Stock futures slipped.

On the colder side of the border, Canada generated 21,100 jobs in September, modestly topping expectations for a 20,000-position increase. According to data released by Statistics Canada, the unemployment rate fell to 5.2 percent from 5.4 percent in August. Average hourly wages grew 5.2 percent on a year-over-year basis, up from the 5.4 percent pace recorded in the prior month.

The data will reinforce odds on a 50 basis point move at the Bank of Canada’s next meeting, and raise expectations farther out. In a speech yesterday, Governor Tiff Macklem said “All the signs today point to an economy that is clearly in excess demand. Labour markets remain very tight. Job vacancies have eased a little in recent months but remain exceptionally high. Our business surveys report widespread labour shortages. And wage growth has risen and continues to broaden.”

Nvidia Earnings Top Estimates, Markets Surge
Fed Worried About Cutting Too Soon
Markets Mark Time Into Fed Minutes, Nvidia Earnings
AUD recovery continues
Canadian Inflation Decelerates Sharply in January
Dollar Steadies As Rate Cut Consensus Falters