A blockbuster jobs report from Canada: a gain of 74.1K jobs in September, more times the early expectations. The unemployment rate dropped to 6.8% from 7% beforehand. USD/CAD is sliding on the great news, but it seems the markets see it as too good to be true. The pair dropped from around 1.1210 to 1.1160, which is significant, but not proportional to the huge gain in jobs. Canada gained 69.3K full time jobs and 4.8K part time jobs. The participation rate dropped to 66%, the lowest since 2001 but still above the US 62.7%. Canada was expected to report a gain of 18.7K jobs in September, after a loss of 11K in August. The unemployment rate was predicted to remain unchanged at 7%. This time, these numbers got the full attention, as the US NFP report was already published. USD/CAD was trading around 1.12 towards the publication. See the preview: Canadian Employment Data: What To Expect & How To Position? -Credit Agricole The Canadian authorities had some issues with reporting the employment data back in July, and hopefully this belongs to the past. The pair has been rising mostly on the strength of the US dollar, but also due to the weakness in oil prices. For more, see the Canadian dollar forecast. Here is how it looks on the chart: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next This week in the markets: FOMC minutes hit the US Guest 7 years A blockbuster jobs report from Canada: a gain of 74.1K jobs in September, more times the early expectations. The unemployment rate dropped to 6.8% from 7% beforehand. USD/CAD is sliding on the great news, but it seems the markets see it as too good to be true. The pair dropped from around 1.1210 to 1.1160, which is significant, but not proportional to the huge gain in jobs. Canada gained 69.3K full time jobs and 4.8K part time jobs. The participation rate dropped to 66%, the lowest since 2001 but still above the US 62.7%. Canada was expected to report a… 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.
