Unemployment Rate in Canada fell to 5.5% in January. USD/CAD lost its traction after the data and dropped to 1.3280 area. The data published by Statistics Canada on Friday showed that the Unemployment Rate in Canada fell to 5.5% in January from 5.6% in December to beat the market expectation of 5.6%. “The additional employment in January contributed to gains totalling 268,000 (+1.4%) since January 2019,” Statistics Canada noted in its press release. “All of this increase was the result of growth in full-time employment. Over the same period, total hours worked increased 0.5%.” USD/CAD slides after the data With the initial market reaction, the USD/CAD pair erased more than 30 pips in a matter of minutes and was last down 0.03% on the day at 1.3281. 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/JPY spikes to 110 after stong NFP reading FX Street 2 years Unemployment Rate in Canada fell to 5.5% in January. USD/CAD lost its traction after the data and dropped to 1.3280 area. The data published by Statistics Canada on Friday showed that the Unemployment Rate in Canada fell to 5.5% in January from 5.6% in December to beat the market expectation of 5.6%. "The additional employment in January contributed to gains totalling 268,000 (+1.4%) since January 2019," Statistics Canada noted in its press release. "All of this increase was the result of growth in full-time employment. Over the same period, total hours worked increased 0.5%." USD/CAD slides after the data With the initial market reaction,… Regulated 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.
