Canada Unemployment Rate rises to 6.8% in November vs. 6.6% expected
Source Fxstreet
- Unemployment Rate in Canada rose at a faster pace than expected in November.
- USD/CAD trades in positive territory near 1.4100 after the data.
The Unemployment Rate in Canada rose to 6.8% in November from 6.5% in October, Statistics Canada reported on Friday. This reading came in above the market expectation of 6.6%.
Other details of the data showed that Net Change in Employment was +50.5K in this period, compared to the market expectation of 25K. Additionally, the participation rate rose to 65.1% from 64.8%, while the Average Hourly Wages rose by 3.9% on a yearly basis.
Market reaction
USD/CAD gained traction following this data and was last seen rising 0.5% on the day at 1.4090.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Bitcoin options open interest hit $74.1B vs. $65.2B futures as BTC trades at $93,189; Checkonchain flags IBIT/Deribit concentration and a 15% hashrate drop.
Ethereum Price Forecast: ETH faces heavy distribution as price slips below average cost basis of investorsEthereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Bitcoin plunges 11% to break $65k as analysts term the crash "structural," citing a $1 trillion market wipeout and $2.09 billion in daily liquidations.
Bitcoin price rebounds above $70,000; Cathie Wood calls a "potential bottom" again, but the reality may differ.On Monday (February 9), Bitcoin ( BTC) price momentum has stalled, fluctuati
Related Instrument
