A somewhat disappointing jobs report in Canada: the nation lost 10.7K jobs. However, this comes after a few good months. The unemployment rate is at 6.6% and the labor productivity is up 0.1%.
USD/CAD is at 1.1430, on this report and also on the NFP. The high was seen at 1.1442 and the pair is off the highs.
More data: the participation rate remained at 66%. Full time employment actually rose 5.7K and part time employment dropped 16.3K. This makes it look better.
Canada was expected to report a more moderate jobs report this time – a gain of 5.3K jobs after a big jump of 43.1K jobs in October. The unemployment rate was predicted to tick up from 6.5% to 6.6%.
Update from the US: Non-Farm Payrolls amazes with +321K – USD leaps
USD/CAD traded just under 1.14 before the publication. At the same time, the US also releases its Non-Farm Payrolls report.
Labor productivity was expected to slide by 0.1% after +1.8% last month.
Canadian trade balance was predicted to remain positive with a surplus of 0.4 billion after +0.7 billion beforehand. The actual number is +0.1 billion.
More: CAD Post-BoC: It’s Not Just An Oil Story – Credit Agricole
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