The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
The jobs data may push the CAD up
Canada's jobs data is expected on February 8, at 15:30 MT time.
The employment indicators are very important, as they show the level of consumer spending in the country. Last time the actual figures supported the CAD. In particular, the level of employment change reached 9.3 thousand jobs (vs. the forecast of 6.8 thousand) and the unemployment rate fell to 5.6% (vs. the forecast of 5.7%). If this time the situation repeats itself, the CAD will be stronger.
• If the employment change is higher and the unemployment rate is lower than the forecasts, the CAD will move up;
• If the employment change is lower and the unemployment rate is higher than the forecasts, the CAD will fall down.
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