Statistics Canada reported that employment rose by 18,200 in June, pushing the unemployment rate down to 6.5%. The result beat market expectations for a gain of 10,000 and a jobless rate of 6.6%, extending the solid momentum from May's increase of 87,800. Even with lingering uncertainty over the North American Free Trade Agreement, the data provided fresh evidence that the Canadian economy is absorbing the impact of U.S. tariffs better than initially feared. Royce Mendes of Desjardins noted that two straight months of job gains give the Bank of Canada confidence to hold interest rates steady next week.