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BREAKING: CAD gains after strong Canadian labor market report 🎯

1:43 PM 10 May 2024

01:30 PM BST, Canada - Employment Data for April:

  • Unemployment Rate: actual 6.1%; forecast 6.2%; previous 6.1%;
  • Participation Rate: actual 65.4%; previous 65.3%;
  • Employment Change: actual 90.4K; forecast 20.9K; previous -2.2K;
  • Avg hourly wages Permanent employee: actual 4.8%; previous 5.0%;

The hawkish data increasing the chances that the BoC will have to take a more conservative stance on interest rate cuts. The Canadian dollar gained sharply against the USD after the macro data reading.

 

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