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 21 pips or 0.17% after the release. The Greenback continued trading at the 1.2670 level against the Loonie after the release.
Statistics Canada released the Canadian Employment Change data, which came out worse-than-expected of negative 62.6K compared with the forecast of negative 32.5K. Note that the US Employment data set was released at the same time.
According to the official release: "By December, 1.1 million Canadian workers were affected by the COVID-19 economic shutdown—in the form of lost employment or reduced hours—compared with 5.5 million in April."
| Date | 04.09.20 | 09.10.20 | 06.11.20 | 04.12.20 | 08.01.21 |
|---|---|---|---|---|---|
| Actual | 245.8K | 378.2K | 83.6K | 62.1K | -62.6K |
| Forecast | 262.5K | 150.0K | 59.0K | 22.0K | -32.5K |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.9869 | 0.98705 | 0.02% |
| CAD/CHF | 0.69656 | 0.69659 | 0.00% |
| EUR/CAD | 1.55527 | 1.55552 | 0.02% |
| USD/CAD | 1.26921 | 1.26812 | -0.09% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 27.7% | 72.3% |
| CAD/CHF | 72.7% | 27.4% |
| EUR/CAD | 33.8% | 66.2% |
| USD/CAD | 72.1% | 28.0% |
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