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.
NFP: an opportunity for the USD?
The level of non-farm payrolls, also known as non-farm employment change or NFP is expected at 15:30 MT time on October 4.
The indicator represents the change in the number of employed people during the previous month without farmers. Traders pay huge attention to it, as it makes the US dollar highly volatile after the release. Also, we recommend you not to underestimate the unemployment rate and the level of average hourly earnings. These indicators are released at the same time as the non-farm payrolls and they tend to affect the USD as well. The previous release of jobs data disappointed the market. Despite a higher-than-expected level of average hourly earnings (0.4% vs. %0.3 expected), the level of NFP declined by 130 thousand jobs. It resulted in mixed trading of the USD. This time it may lead to a different outcome.
• If the NFP is higher than the expectations, the USD will rise;
• If the NFP is lower than the expectations, the USD will fall.
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Keep an eye on US inflation data
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
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