The US Dollar depreciated against the Canadian Dollar, following the Canadian Employment data set release on Thursday at 12:30 GMT. The USD/CAD exchange currency rate lost 55 pips or 0.39% after the release. The Greenback continued trading at the 1.4040 level against the Canadian Dollar after the release.
Statistics Canada released the Canadian Employment Change data, which came out worse-than-expected of negative 1010.7K compared with the forecast of negative 427K. Note that the US Unemployment Claims data was released at the same time.
According to the official release: "In March, the number of employed people fell by more than one million (-1,011,000 or -5.3%). The employment rate, or the proportion of people aged 15 and older who were employed, fell 3.3 percentage points to 58.5%. This was the lowest employment rate since April 1997. It is expected that the sudden employment decline observed in March will have a significant effect on the performance of the Canadian economy over the coming months."
| Date | 06.12.19 | 10.01.20 | 07.02.20 | 06.03.20 | 09.04.20 |
|---|---|---|---|---|---|
| Actual | -71.2K | 35.2K | 34.5K | 30.3K | -1010.7K |
| Forecast | 10.0K | 24.9K | 16.3K | 10.5K | -427.0K |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.87621 | 0.87735 | 0.13% |
| CAD/CHF | 0.69113 | 0.69201 | 0.13% |
| EUR/CAD | 1.52871 | 1.52648 | -0.15% |
| USD/CAD | 1.40577 | 1.40308 | -0.19% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 70.7% | 29.3% |
| CAD/CHF | 72.5% | 27.5% |
| EUR/CAD | 48.5% | 51.5% |
| USD/CAD | 26.7% | 73.3% |
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