BREAKING: Lower Unemployment in Canada🍁USDCAD sharply declines📉

14:30 - Canada Employment Data (November):

Employment Change: 53,6k (Expected: -1.5k, Previous: 66.6k)
Unemployment Rate: 6,5% (Expected 7%, Previous: 6.9%)
Participation Rate: 65,1% (Previous: 65.3%)
Avg. Hourly Wage Change: 4% (Previous: 4%)

Labor market in Canada shows signs of noticeable improvement, with unemployment falling by 0,4% compared to expected growth by 0,1%.

Bank of Canada will find many fewer reasons to urgently cut interest rates in such an environment, USD sharply declines to CAD, as expected spreads between implied target interest rates lessen.

USDCAD (M1)

Source: xStation5

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