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Canada: Unemployment Rate in February ticked up to 5.6% as expected

FX Street
Updated:
  • Unemployment Rate in Canada rose to 5.6% in February as expected.
  • USD/CAD continues to cling to modest daily gains after the data.

“Employment was little changed in February (+30,000 or +0.2%), and the unemployment rate increased by 0.1 percentage points to 5.6%,” Statistics Canada reported on Friday. The Unemployment Rate came in line with the market expectation and the Net Change in Employment (30K) beat the analysts’ estimate of +10K.

USD/CAD reaction

The labour market report from Canada doesn’t seem to be having a significant impact on the CAD’s performance. As of writing, the USD/CAD pair was up 0.1% on a daily basis at 1.3420.

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