USD/CAD: CAD On Fire After Wild Jobs Report
Dean Popplewell | Feb 08, 2019 09:39
Canada January Full-Time Jobs +30,900; Part-Time +36,000
Canada January Average Hourly Wages +2.0% From Year Ago
Canada January Participation Rate At 65.6% Vs 65.4% In Dec
Canada January Jobless Rate 5.8%; Dec 5.6%
Employment in Canada surged last month, led by the biggest one-month private-sector hiring ever recorded, while the unemployment rate climbed on a sharp increase in the number of younger people looking for a job.
The Canadian economy added a net 66,800 jobs in January – the market was expecting a net job increase of 5,000.
Canada’s jobless rate climbed to 5.8% in January, from 5.6% m/m. The uptick is being attributed to more people looking for work.
An estimated 103,000 Canadians joined the labor force in January, the largest one-month gain in a decade.
CAD has rallied hard on the surprise number, up 0.6% to C$1.3241 – the loonie was trading at C$1.3303 ahead of the release.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Get The App
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.