The US Dollar depreciated against the Canadian Dollar, following the Canadian employment data set release on Friday at 13:30 GMT. The USD/CAD exchange currency rate lost 19 pips or 0.15% after the release. The Greenback continued trading at the 1.3050 level against the Loonie after the release.
Statistics Canada released the Canadian Unemployment Rate data, which came out better-than-expected of 8.9% compared with the forecast of 9.0%. Note that the US employment data set was released at the same time.
According to the official release: "Employment increased by 84,000 (+0.5%) in October. Most of the employment increase in October was in full-time work (+69,000). Self-employment increased for the first time (+1.2%; +33,000) since the onset of the COVID-19 pandemic. Among those who worked at least half their usual hours, the number working from home increased by 150,000."
| Date | 10.07.20 | 07.08.20 | 04.09.20 | 09.10.20 | 06.11.20 |
|---|---|---|---|---|---|
| Actual | 12.3% | 10.9% | 10.2% | 9.0% | 8.9% |
| Forecast | 12.0% | 11.1% | 10.1% | 9.8% | 9.0% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.94807 | 0.94894 | 0.09% |
| CAD/CHF | 0.68862 | 0.68902 | 0.06% |
| EUR/CAD | 1.55220 | 1.55091 | -0.08% |
| USD/CAD | 1.30655 | 1.30564 | -0.07% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 47.2% | 52.8% |
| CAD/CHF | 74.4% | 25.6% |
| EUR/CAD | 41.3% | 58.7% |
| USD/CAD | 73.1% | 27.0% |
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