Canadian Jobs: Another Excellent Report: +39.8K, Unemployment Rate 7.1%


Canada reported a gain of 39.8K jobs in December. Early expectations stood on a rise of 4K. The unemployment rate is 7.1%. Expectations stood on a rise from 7.2% to 7.3%.

USD/CAD is now plunging to 0.9875, with a small gap. The pair traded above the 0.9910 line before the release. It’s important to remember that the US Non-Farm Payrolls report was published at the exact same time.

US NFP showed a gain of 155K jobs and an unemployment rate of 7.8% – it allowed profit taking of dollar longs.

For the month of November, Canada posted an excellent report, with a gain of 59.3K jobs, far better than expected. Also the unemployment rate surprised with a drop to 7.2%.

USD/CAD was relatively stable in a week that saw big moves in the yen, euro and also the pound, but now it is on the move.

For more, see the Canadian dollar forecast.

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About Author

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 the 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.