The March Labour Force Survey revealed record-breaking job losses, with over 1m Canadians newly unemployed during the month. USD/CAD drifted lower on the news, economists at TD Securities report. Key quotes “The labour market shed 1 million jobs in March, with the unemployment rate rising by more than 2 p.p. to 7.8%.” “Despite the unprecedented drop in employment, the initial reaction in USD/CAD has been complicated by the simultaneous announcement from the Fed of new lending programs. This, alongside looming OPEC news today and tomorrow complicates the reaction in USD/CAD.” “We think that dips in USD/CAD should be bought; 1.40 is the ‘effective floor’ with 1.3920/50 being major support.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Initial Jobless Claims still astronomical – BMO FX Street 2 years The March Labour Force Survey revealed record-breaking job losses, with over 1m Canadians newly unemployed during the month. USD/CAD drifted lower on the news, economists at TD Securities report. Key quotes “The labour market shed 1 million jobs in March, with the unemployment rate rising by more than 2 p.p. to 7.8%.” “Despite the unprecedented drop in employment, the initial reaction in USD/CAD has been complicated by the simultaneous announcement from the Fed of new lending programs. This, alongside looming OPEC news today and tomorrow complicates the reaction in USD/CAD.” “We think that dips in USD/CAD should be bought; 1.40… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
