The Canadian dollar weakened against the Greenback, following the Canadian Employment Change data release last Friday. The USD/CAD currency pair lost 47 pips, or 0.36%, to continue fluctuating in the 1.3088 area, recovering after the huge drop right after the data release.
The Statistics Canada released Employment Change data that came better-than-expected of 54.1 thousands with the forecasted 17.0 thousands or 0.2%. This data release number is much higher than previous data of 31.8 thousands. The new data decreased the unemployment rate in Canada by 0.2 per cent to 5.8 per cent.
The CIBC chief economist Avery Shenfeld commented: "In the wacky world of Canada's monthly employment numbers, July came up with another head scratcher, with some big headlines but some disappointments in the fine print".
| Historical Data Table: Employment Change | Economic Calendar for 14.08.2018 | ||||||||
| Date | 06.04.2018 | 11.05.2018 | 13.06.2018 | 06.07.2018 | 10.08.2018 | 8:30 AM | GB Average Earnings Index 3m/y |
||
| Actual | 32.3K | -1.1K | -7.5K | 31.8K | 54.1K | 8:30 AM | GB Unemployment Rate | ||
| Forecast | 20.1K | 17.8K | 19.1K | 22.3K | 17.0K | 9:00 AM | EU Flash GDP q/q | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.95618 | 0.95564 | -0.06% | AUD/CAD | 71.56% | 28.44% | |||
| CAD/CHF | 0.75899 | 0.7602 | 0.16% | CAD/CHF | 51.52% | 48.48% | |||
| EUR/CAD | 1.49756 | 1.49721 | -0.02% | EUR/CAD | 60.97% | 39.03% | |||
| USD/CAD | 1.30866 | 1.30754 | -0.09% | USD/CAD | 52.83% | 47.17% | |||