CAD: Canada Reveals Labor Data

CAD: Canada Reveals Labor Data

What will happen?

Canada will reveal its jobless rate and employment change for June on July 9, 15:30 MT. What do these indicators mean? Well, the jobless rate shows the percentage of people who are unemployed and actively seeking a job, while employment change reveals how many people have become employed. The unemployment rate in Canada increased to 8.2% in May from 8.1% in April, in line with market expectations. Employment dropped by 68,000, with a major part of the decline in part-time work (-54,000).

How to trade on Canada’s employment data?

The better the labor data is – the more chances the Bank of Canada will tighten the policy, which in turn will push the Canadian dollar up.

  • If the jobless rate is less and employment change is greater than forecasted, the CAD will rise.
  • Otherwise, the CAD will fall.

Instruments to trade: USD/CAD, CAD/JPY, EUR/CAD

Check the economic calendar




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Latest news

FED and BOE Make Another Attempt to Beat Inflation
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The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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