Analysts at TD Securities note that Canada’s job growth surprised to the upside in June at 32k though a softer pace of wage growth and higher unemployment rate took some shine off the headline print, while the international trade deficit was wider than expected in May at -$2.8bn on stronger imports. Key Quotes “Overall, we view this data as mixed for policymakers. BoC officials are more focused on wage growth than headline unemployment and solid imports will provide a tailwind to investment.” “Furthermore, we continue to track Q2 GDP at 2.4% which leaves a low bar for the BoC to hike next week.” “We now think it is an opportune time to begin scaling into short CAD exposure. Holding 1.3100/50 in USDCAD suggests that the bottom may be in.” 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 USD/CHF Technical Analysis: breaks below a short-term ascending trend-line support FX Street 3 years Analysts at TD Securities note that Canada's job growth surprised to the upside in June at 32k though a softer pace of wage growth and higher unemployment rate took some shine off the headline print, while the international trade deficit was wider than expected in May at -$2.8bn on stronger imports. Key Quotes "Overall, we view this data as mixed for policymakers. BoC officials are more focused on wage growth than headline unemployment and solid imports will provide a tailwind to investment." "Furthermore, we continue to track Q2 GDP at 2.4% which leaves a low bar for the BoC to… 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.
