Canada is expected to report a record loss of jobs and a leap in the unemployment rate while the simultaneous release of US jobless claims and the OPEC+ meeting complicate matters, FXStreet’s analyst Yohay Elam reports. Key quotes “If Canada loses over a million jobs, the loonie has room to fall in response to the depressing news. If it surprises with a loss of hundreds of thousands of positions, traders will likely conclude that this is only the beginning, and more job losses will come.” “Canada’s jobs report is due out at the same time as the US publishes weekly jobless claims. Another disastrous statistics may trigger safe-haven flows into the dollar, thus pushing USD/CAD even higher. A drop in the number of applications could trigger the opposite reaction.” “Headlines coming out of the OPEC+ meeting, and the preliminary talks, may also whipsaw USD/CAD and skew the reaction to the jobs report.” 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 New Zealand: GDP to fall by 15% – Westpac FX Street 2 years Canada is expected to report a record loss of jobs and a leap in the unemployment rate while the simultaneous release of US jobless claims and the OPEC+ meeting complicate matters, FXStreet’s analyst Yohay Elam reports. Key quotes “If Canada loses over a million jobs, the loonie has room to fall in response to the depressing news. If it surprises with a loss of hundreds of thousands of positions, traders will likely conclude that this is only the beginning, and more job losses will come.” “Canada's jobs report is due out at the same time as the US publishes weekly… 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.
