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Canadian jobs: down 10.7K, unemployment rate 6.6%

A somewhat disappointing jobs report in Canada: the nation lost 10.7K jobs. However, this comes after a few good months. The unemployment rate is at 6.6% and the labor productivity is  up 0.1%.

USD/CAD is at 1.1430, on this report and also on the NFP. The high was seen at 1.1442 and the pair is off the highs.

More data: the participation rate remained at 66%. Full time employment actually rose 5.7K and part time employment dropped 16.3K. This makes it look better.

Canada was expected to report a more moderate jobs report this time – a gain of 5.3K jobs after a big jump of 43.1K jobs in October. The unemployment rate was predicted to tick up from 6.5% to 6.6%.

Update from the US:  Non-Farm Payrolls amazes with +321K – USD leaps

USD/CAD traded just under 1.14 before the  publication. At the same time, the US also releases its Non-Farm Payrolls report.

Labor productivity was expected to slide by 0.1% after +1.8% last month.

Canadian trade balance was predicted to remain positive with a surplus of 0.4 billion after +0.7 billion beforehand. The actual number is +0.1 billion.

More:  CAD Post-BoC: It’s Not Just An Oil Story – Credit Agricole

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.