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Canadian Employment Rate and Unemployment Change are announced on April 9, at 15:30.
Since May, which saw the unemployment rate reach 13.7% in Canada, this indicator has been going down until it came to 8.5% in November. After that, however, it started growing again and reached back up to 9.4% in January. February saw a drop to 8.2% - the lowest since the start of the pandemic in March. It was good news as the market was expecting 9.4%.
This time, the expectation is 8.2% for the unemployment rate in Canada. Any major deviation from that may lead to a corresponding reaction in the course of the CAD.
Instruments to trade: AUD/CAD, USD/CAD, CAD/JPY, GBP/CAD
Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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