USD/CAD: Canadian Employment Data Set

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 70 pips or 0.53% right after the release. The Greenback continued trading at the 1.3185 level against the Canadian Dollar.

Statistics Canada released the Canadian Employment Change data, which came out better-than-expected of 81.1K compared with the forecast of 18.9K. Note, that the US Employment data set was released at the same time.

According to the official release: "The bulk of the employment increase in August was in Ontario and Quebec. There were also smaller gains in Manitoba, Saskatchewan and New Brunswick. Employment held steady in the other provinces.The number of private sector employees increased in August, more than offsetting the decline in July. There were more people employed in finance, insurance, real estate, rental and leasing; educational services; and in professional, scientific and technical services. In contrast, employment declined in business, building and other support services.There were more youths aged 15 to 24 and people aged 55 and over working in August."