Session Recap: Quiet day but the wild Canadian

FXStreet (San Francisco) - Majors traded inside small ranges on Friday as investors were quiet in a summer Friday session. However, the Canadian Dollar fell strongly as unemployment rate in Canada rose to 7.1%. Germany and Netherlands ratings were affirmed including an upgrading in the Outlook of Holland.

The USD/CAD jumped 100 pips from 1.0630 to peak to 1.0735, highest since June 25. The pair finally close at 1.0725. "A medium-term bottom has been established with today's close above 1.07," comments Jamie Coleman from FXBeat. "Jawboning from Stevens sent AUD to 0.9377 from 0.9400 before we stabilized near 0.9388 at the close."

Main headlines in the American session

Canada: Unemployment rate (Jun) up to 7.1%

S&P affirms Germany’s sovereign rating with a stable outlook

Fitch revises Netherlands outlook to stable; ratings affirmed at AAA

US stocks closed Friday with gains but lower in the week