Canadian job data may push the CAD up
Canada will release the employment change and the unemployment rate on October 9, at 15:30 MT time.
A chance for the Australian dollar
Australia will publish the employment change and unemployment rate on July 18, at 4:30 MT time.
The jobs data is important as it shows the economically active number of people. The indicator of employment change represents the change in the number of employed people during the previous month. As for the unemployment rate, it is the percentage of the total workforce that is unemployed. Last time, the level of employment change showed a great increase. It advanced by 42.3 thousand jobs (vs the forecast of 16 thousand jobs). The Australian dollar rose on the release. At the same time, the unemployment rate remained unchanged. Will the situation change?
• If the employment change is higher and the unemployment rate is lower than the forecasts, the AUD will go up;
• If the employment change is lower and the unemployment rate is higher than the forecasts, the AUD will go down.
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