USD/CAD plummets on Canadian jobs report

August 10, 2018 Share Print 0

Canadian jobs market is on fire

By the numbers:

Canada Jul Net Jobs +54,100 From Jun

Canada Jul Net Jobs Forecast At +17,000

Canada Jul Full-Time Jobs -28,000; Part-Time +82,000

Canada Jul Jobless Rate 5.8%; Jun 6.0%

Canada Jul Jobless Rate Forecast At 5.9%

Canada Jul Avg Hourly Wages +3.2% From Year Ago

Canada Labor Force +19,100 In Jul From Jun

Canada Jul Participation Rate At 65.4% Vs 65.5% In Jun

Job creation flew by market expectations in July as large gains in part-time and public sector positions helped push down the unemployment rate by two-tenths.

Canada added a net +54.1K jobs in July on a seasonally adjusted basis. The market was looking for a net gain of +17K.

Canada’s new jobless rate fell to +5.8% in July, down from +6% in June. The market was looking for an unemployment rate of +5.9%.

The loonie is off from its intraday low of C$1.3122 and currently trading C$1.3062 immediately after the release.

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Dean Popplewell

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Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments.
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