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BREAKING: Strong labor data from Canada

12:33 PM 5 May 2023

Unemployment data for April published Statistics Canada:

  • Unemployment Rate: Actual 5.0%, Expected: 5.1%, Previously: 5.0%
  • Employment Change: Actual 41.4k, Expected: 21.5k, Previously: 34.7k

The Canadian dollar experienced a slight appreciation following the release of new labor data in Canada, but the difference was not significant. However, it's important to note that data for the US labor market (NFP) was also published around the same time, so we can expect increased volatility in the markets.

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USDCAD is down 0.4% and trading at 1.3484 level.

 

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