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Canada enjoys another superb job gain: +43.9K

Canada gained 43.9K jobs in  October against a forecast for a drop in jobs. In the past two months, the economy gained 111.1K jobs, a winning streak. The unemployment rate  remained unchanged at 7% but the participation rate also surprised with a move up from 65.7% to 65.8%.

USD/CAD is not moving in the “right” direction and actually rising. Also in the US, the NFP came out above expectations.

Canada was expected to report a  loss of 10K jobs in October after a superb gain of 67.2K back in September. The unemployment rate was predicted to remain unchanged at 7% with a small tick down in the participation rate from 65.7% to 65.6%. Canada often experiences fluctuations between full-time and part-time jobs.

USD/CAD traded around 1.3425 ahead of the release. It is important to note that the US also released its jobs report, the Non-Farm Payrolls, at the same time. Both countries also  publish their trade balance reports at the same time.

See the full guide for trading the elections.



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.