USD/CAD: Canadian Employment Data Set

The US Dollar appreciated against the Canadian Dollar, following the Canadian data set release on Friday at 12:30 GMT. The USD/CAD exchange currency rate gained 63 pips or 0.47% right after the release. The Greenback continued trading at the 1.3255 level against the Canadian Dollar.

Statistics Canada released the Canadian Employment Change data, which came out worse-than-expected of negative 24.2K compared with the forecast of 15.2K.

According to the official release: "While employment was little changed overall in July, it decreased in Alberta, Nova Scotia and New Brunswick, and increased in Quebec and Prince Edward Island. Employment held steady in the other provinces. There were fewer people working in wholesale and retail trade; transportation and warehousing; "other services"; and natural resources. In contrast, employment increased in construction and public administration. The number of private sector employees fell in July, while self-employment rose. Employment declined in July both for youth aged 15 to 24 and for women in the core working ages of 25 to 54, while it increased for core-aged men."