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Canada loses 4.3K jobs – USD/CAD hits new multi-year

The Canadian  economy lost 4.3K jobs in December, worse than expected. The unemployment rate remained unchanged at 6.6%, exactly as predicted.

USD/CAD is up to 1.1815, on this disappointment as well as the US NFP.

Some more data: full time employment 53.3K, part time -57.7K and the participation rate slides to 65.9% from 66% last time. A rotation between full time and part time jobs is quite common in Canada.

Canada was expected to report a gain of 10.3K jobs in December  after a loss of 10.7K jobs back in November. The unemployment rate was expected to remain unchanged at 6.6%.

USD/CAD traded around 1.1815 towards the release.

At the same time, the US also released its own jobs report: the Non-Farm Payrolls.

Update:  Non-Farm Payrolls +252K, unemployment, unemployment 5.6%

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.