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Canadian employment: +6.6K, unemployment rate 6.8%

The Canadian jobs report comes out more or less as  expected: 6.6K jobs gained,  marginally above expectations. The unemployment rate remains 6.8%.

USD/CAD is up due to the USD strength. The NFP was mediocre, but still triggered dollar strength.

The Canadian economy was expected to gain 5.3K jobs in July following a loss of 6.4K jobs back in June. The unemployment rate was predicted to remain unchanged at 6.8%.

USD/CAD traded around 1.31, off the highs seen earlier in the week. At the exact same time, the US also released its jobs report: the Non-Farm Payrolls, leading to elevated volatility.

At the same time, Canada also reported building permits, that were expected to bounce up 5.1% after a big fall of 14.5% in the previous month (before revisions).



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.