Canada Unemployment Rate declines to 6.5% in September vs. 6.7% expected
Source Fxstreet
- Unemployment Rate in Canada declined slightly in September.
- USD/CAD pushes lower following the upbeat Canadian employment data.
The Unemployment Rate in Canada edged lower to 6.5% in September from 6.6% in August, Statistics Canada reported on Friday. This reading came in below the market expectation of 6.7%.
Further details of the jobs report showed that the Net Change in Employment came in at 46.7K in the same period, up sharply from 22.1K in August. Finally, the Average Hourly Wages rose 4.5%, at a softer pace than the 4.9% increase recorded in August, while the Participation Rate declined to 64.9% from 65.1.
Market reaction
USD/CAD turned south with the immediate reaction and retreated from the two-month high it set above 1.3780. At the time of press, the pair was virtually unchanged on the day at 1.3740.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold Price Forecast: Will Gold Keep Falling After Dropping Below $4,300 as US-Iran Conflict Drives Up Oil Prices?As of the Asian trading session on September 2, gold prices (XAUUSD) fell below $4,300 intraday to a low of $4,282.45, with the latest price hovering around $4,320, down nearly 9% cumulat
As of the Asian trading session on September 2, gold prices (XAUUSD) fell below $4,300 intraday to a low of $4,282.45, with the latest price hovering around $4,320, down nearly 9% cumulat
As of the Asian session on September 2, international oil prices surged, with WTI crude (USOIL) reclaiming $90, and Brent crude (UKOIL) rising above $95, reaching a high of $97.04; meanwh
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, regains positive traction on Tuesday and climbs back above the mid-99.00s during the first half of the European session.
West Texas Intermediate (WTI) oil price gains ground for the second successive day, trading around $85.60 per barrel during the Asian hours on Tuesday.
The US and Iran exchanged direct fire again after more than a month, rapidly escalating shipping risks in the Strait of Hormuz and pushing international oil prices back above $90 a barrel
