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
Prioritize filling the $27,000 gap and even try higher.
As the spot ETF war intensifies, Bitcoin prices may rise, and Ethereum and Ripple may also rebound under its influence.
Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
Silver Price Forecast: XAG/USD plummets below $76 as oil price posts fresh weekly highSilver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
Silver price (XAG/USD) is down almost 2.3% to near $76.00 during the European trading session on Thursday. The white metal faces selling pressure as oil prices extends its winning streak for the third trading day on Thursday.
The USD/JPY pair is seen consolidating in a narrow band around mid-159.00s during the Asian session on Tuesday as traders opt to wait for the crucial Bank of Japan (BoJ) before placing fresh directional bets.
