Breaking news: CAD falls after jobs miss

2:38 PM 8 November 2019

The main economic release from the North American session comes from Canada this afternoon, with the latest jobs data coming in worse than expected. The data was as follows:

 
  • Employment change: -1.8k vs +15k exp. +53.7k prior

  • Full time roles: -16.1k vs +2.5k exp. +70k prior

  • Part time roles: +14.3k vs +12.5k exp. -16.3k prior 

  • Unemployment rate: 5.5% vs 5.5% exp. 5.5% prior

 

This is clearly a negative report with not only the net change coming in negative but more important the full time roles falling by 16.1k. After two consecutive strong readings of +81.1k and 53.7k respectively this is a disappointment and given the dovish shift seen from the BoC following their last meeting the chances of a rate cut at the next decision will rise further after this.

USDCAD has made a strong push higher since the release with the pair moving up through the $1.32 handle to trade at a 3-week high. Source: xStation

 

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits