Canadian dollar is awaiting the jobs data

Canadian dollar is awaiting the jobs data

Canada will release the level of employment change and unemployment rate on October 11, at 15:30 MT time. The employment change represents the change in the number of employed people during the previous month. Last time, this indicator showed a great increase by 81.1 thousand jobs. The unemployment change, which is the percentage of the total unemployed workforce, stood at the same level of 5.7%. That scenario resulted in the rise of the Canadian currency. If this time the situation repeats itself, bulls of the CAD will be excited again.

• If the employment change is higher and the unemployment rate is lower than the forecasts, the CAD will go up;

• If the employment change is lower and the unemployment rate is higher than the forecasts, the CAD will go down.

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