The US Dollar depreciated against the Canadian Dollar, following the Canadian Employment data set release on Friday at 12:30 GMT. The USD/CAD exchange currency rate lost 25 pips or 0.18% after the release. The Greenback continued trading at the 1.3450 level against the US Dollar after the release.
Statistics Canada released the Canadian Employment Change data, which came out better-than-expected of 289.6K compared with the forecast of negative 500.0K. Note that the US Employment data set was released at the same time.
According to the official release: "The gradual easing of COVID-19 restrictions and the re-opening of the economy presents both opportunities and challenges for employers and workers. For employers, this includes adapting workplaces while adjusting to disruptions in global supply chains and uncertainties in consumer demand. For workers, the challenges vary, from returning to a previous employer, to looking for a new job, adapting to new ways of working, or making child care arrangements."
| Date | 07.02.20 | 06.03.20 | 09.04.20 | 08.05.20 | 05.06.20 |
|---|---|---|---|---|---|
| Actual | 34.5K | 30.3K | -1010.7K | -1993.8K | 289.6K |
| Forecast | 16.3K | 10.5K | -427.0K | -4000.0K | -500.0K |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.93892 | 0.93609 | -0.30% |
| CAD/CHF | 0.71266 | 0.71662 | 0.56% |
| EUR/CAD | 1.52390 | 1.51648 | -0.49% |
| USD/CAD | 1.3443 | 1.34133 | -0.22% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 33.9% | 66.1% |
| CAD/CHF | 59.9% | 40.1% |
| EUR/CAD | 48.1% | 51.9% |
| USD/CAD | 61.3% | 38.7% |
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