Canada's Unemployment Rate Falls to 6.4% in July

Canada's unemployment rate fell to 6.4% in July, according to Statistics Canada. This marks a decrease from the previous month and is below market expectations.

The Net Change in Employment increased by 75.1K jobs, adding to the 18.2K gain seen in June. The participation rate ticked higher to 65.1%, while wages are growing at a 3.0% annual pace, down from June's 3.7% yearly gain.

The Canadian Dollar (CAD) regained buying pressure following the release, causing USD/CAD to break below the psychological 1.4000 threshold for the first time since mid-June.