Employment change in Canada better than expected

A few moments ago, the national statistical office of Canada released its labour market report for the month of June. Bloomberg’s market consensus anticipated that the headline net change in employment increased by 700k. Surprisingly the reading came in above market expectations as employment change amounted to 952.9k. The exact figures were as follows:

Net Change in Employment: 952.9k (vs expected: 700k)
Unemployment Rate: 12.3% (vs expected: 12.1%)
Participation Rate: 63.8% (prior: 61.4%)

Shortly after the release, USDCAD is still trading slightly lower. The reading did not have any significant impact on the currency pair though. Looking at H4 time frame, the currency pair is still sitting in a range between 1.3615 and 1.3500 Source: xStation5

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This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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