- ADP data showed employment in Canada continued to fall in September.
- USD/CAD extends daily rally toward 1.3230 after the data.
Employment in Canada decreased by 240,800 from August to September, the monthly data published by the ADP Research Institue revealed on Thursday. This reading followed August’s print of -770, 600 (revised from -205,400).
Commenting on the report, “the labour market continued to post a decline in employment,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “The biggest job losses were in the trade, transportation and utilities; education and healthcare; and manufacturing sectors.”
Market reaction
The USD/CAD pair continued to push higher after this data and was last seen gaining 0.63% on a daily basis at 1.3227.
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