The US Dollar traded sideways against the Canadian Dollar, following the Canadian Employment data set release on Friday at 12:30 GMT. The USD/CAD exchange currency rate gained 6 pips or 0.04% after the release. The Greenback continued trading at the 1.3940 level against the Canadian Dollar after the release.
Statistics Canada released the Canadian Unemployment Rate data, which came out better-than-expected of 13.0% compared with the forecast of 18.0%. Note that the US Employment data set was released at the same time.
According to the official release: "Following a drop of over one million in March, employment fell by nearly two million in April, bringing the total employment decline since the beginning of the COVID-19 economic shutdown to over three million. In addition, the number of people who were employed but worked less than half of their usual hours for reasons related to COVID-19 increased by 2.5 million from February to April. As of the week of April 12, the cumulative effect of the COVID-19 economic shutdown—the number of Canadians who were either not employed or working substantially reduced hours—was 5.5 million, or more than one-quarter of February's employment level."
| Date | 10.01.20 | 07.02.20 | 06.03.20 | 09.04.20 | 08.05.20 |
|---|---|---|---|---|---|
| Actual | 5.6% | 5.5% | 5.6% | 7.8% | 13.0% |
| Forecast | 5.8% | 5.7% | 5.6% | 7.4% | 18.0% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.91093 | 0.90823 | -0.30% |
| CAD/CHF | 0.69683 | 0.69706 | 0.03% |
| EUR/CAD | 1.51279 | 1.51074 | -0.14% |
| USD/CAD | 1.39378 | 1.39486 | 0.08% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 53.1% | 46.9% |
| CAD/CHF | 63.7% | 36.3% |
| EUR/CAD | 56.1% | 43.9% |
| USD/CAD | 41.7% | 58.3% |
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