USD/CAD: Canadian Employment Data Set

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 lost 1 pips or 0.01% after the release. The Greenback continued trading at the 1.3110 level against the Loonie after the release.

Statistics Canada the Canadian Employment Change data, which came out worse-than-expected of 245.8K compared with the forecast of 262.5K. Note that the US Employment data set was released at the same time.

According to the official release: "All of the employment increase in August was in full-time work, which rose by 206,000 (+1.4%), while the number of part-time workers was little changed.Nevertheless, full-time employment stood at 93.9% of pre-pandemic levels in August, compared with 96.1% for part-time work. In the months prior to the COVID-19 economic shutdown, full-time employment had reached record highs, while growth in part-time work was relatively flat. Compared with 12 months earlier, full-time employment was down 5.4% in August, while part-time work decreased 5.1%."