Canada Unemployment Rate stays unchanged at 6.5% vs. 6.6% expected
Source Fxstreet
- Unemployment Rate in Canada held steady at 6.5% in October.
- USD/CAD trades in positive territory above 1.3900 after the labor market data.
Statistics Canada reported on Friday that the Unemployment Rate in Canada remained unchanged at 6.5% in October. This reading came in below the market expectation of 6.6%.
On a yearly basis, Average Hourly Wages rose by 4.9%, following September's 4.5% increase. In the meantime, the Participation Rate edged lower to 64.8% from 64.9%, while the Net Change in Employment rose by 14.5K, falling short of analysts' estimate for an increase of 25K.
Market reaction
USD/CAD edged higher with the immediate reaction and was last seen rising 0.4% on the day at 1.3915.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin experiences significant volatility, dropping toward $87,000 ahead of a crucial Federal Reserve interest-rate decision.
Gold Price Forecast: XAU/USD edges lower below $4,200 amid worries about hawkish Fed rate cutGold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
As institutional inflows into Bitcoin ETFs accelerate, active on-chain addresses are sliding, signaling a shift where investors prefer Wall Street wrappers over self-custody.
Michael Saylor and Strategy are heavily investing in Bitcoin, adding 10,624 more BTC to their already significant holdings, despite a tough year for their stock.
Silver (XAG/USD) enters a bullish consolidation phase during the Asian session and oscillates in a narrow range near the all-time peak, around the $61.00 neighborhood, touched this Wednesday.
