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
As of the Asian session on July 9, after WTI ( USOIL) crude oil prices rebounded sharply for two consecutive trading days, oil prices hovered and adjusted around $73.30 today. From the te
The GBP/USD pair gathers strength near 1.3395 during the Asian trading hours on Thursday, bolstered by fading domestic political uncertainty.
Gold (XAU/USD) trades around $4,050 on Wednesday, down 1.40% on the day at the time of writing, as investors favor the US Dollar (USD) following a fresh deterioration in tensions between the United States (US) and Iran.
As of the Asian session on July 8, WTI ( USOIL) crude oil prices rose to around $72, rebounding significantly from previous trading sessions. From a technical perspective, oil prices had
US President Trump stated at the NATO annual summit on July 8 that he believes the US-Iran memorandum of understanding is "over." This means the temporary ceasefire state between the two
Related Instrument
