Statistics Canada reports on the July net change in employment are due at 12:30 GMT. Job rolls are expected to add 400,000 workers in July while the unemployment rate is forecast to drop to 11% from 12.3%. Impact on the loonie moves relies on the US NFP report rather than Canadian data. USD/CAD could move lower if the US adds less than the 1.6 million jobs expected. Key quotes “National payrolls are forecast to expand by 400,000. The unemployment rate is expected to drop to 11% from 12.3% and the participation rate should rise to 65.4% from 63.8% in June.” “The record of a stronger recovery in the Canadian labor market is likely to continue in July. The pertinent question for the USD/CAD is the state of the US job market. If the forecasts are on target at 1.6 million or less the USD weakness will continue. If NFP is stronger than predictions the degree of dollar impact will equate closely to the size of the payroll number.” 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 Ripple’s XRP is behind numerous innovations “” David Schwartz FX Street 2 years Statistics Canada reports on the July net change in employment are due at 12:30 GMT. Job rolls are expected to add 400,000 workers in July while the unemployment rate is forecast to drop to 11% from 12.3%. Impact on the loonie moves relies on the US NFP report rather than Canadian data. USD/CAD could move lower if the US adds less than the 1.6 million jobs expected. Key quotes “National payrolls are forecast to expand by 400,000. The unemployment rate is expected to drop to 11% from 12.3% and the participation rate should rise to 65.4% from 63.8% in June.”… 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.
