USD/CAD reacts to employment data

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At mid-day on Friday, at 12:30 GMT, the value of the US Dollar plummeted due to the release of the US monthly employment data. At the same time, the Canadian Dollar also lost value due to worse than expected employment numbers.

The US data release consisted of three data sets, which each showed different results.

The US Average Hourly Earnings increased by 0.5% instead of the forecast 0.2%. The Unemployment Rate was at 5.8% instead of the forecast 5.9%. Both of these numbers, in theory, strengthened the value of the US Dollar, as less unemployed population with larger salaries creates a larger domestic demand for the USD.

However, the US Non-Farm Employment Change came in lower than forecast. Namely, 559,000.00 thousand people found jobs in the month instead of the expected 645,000.00. In the view of the market this outweighed the positive numbers, and a value adjustment of the USD down occurred.

At the same time, the Canadian monthly employment data was published. The Canadian Unemployment Rate hit the forecast at 8.2%. However, the Canadian Employment Change was at -68,000.00 instead of the forecast -23,500.00. Namely, there was a bigger decline in the number of employed people than expected.

Due to this reason one can observe that the USD/CAD rate initially dropped 38 pips and afterwards recovered 20 base points.

Back to articles

Actual Topics

Wed, 09 Jun 2021 15:32:30 GMT

Canadian Dollar depreciates on BOC Rate Statement

At mid-day on Wednesday, at 14:00 GMT, the value of the Canadian Dollar plummeted due to the release of the Bank of Canada Rate Statement. The USD/CAD exchange rate surged by 39 base points or 0.32%. The official data release:BOC Rate Statement According to the official release, the Canadian policymakers voted to maintain the Overnight Rate unchanged at 0.25%.  Also, according

Fri, 04 Jun 2021 13:17:31 GMT

USD drops due to employment data

At mid-day on Friday, at 12:30 GMT, the value of the US Dollar plummeted due to the release of the US monthly employment data. The EUR/USD surged by 60 base points or 0.50%. The US data release consisted of three data sets, which each showed different results. The US Average Hourly Earnings increased by 0.5% instead of the forecast 0.2%.

Subscribe to "Fundamental Analysis" feed

Suscribir
Para conocer más sobre la plataforma de Trading de CFD y Forex de Dukascopy Bank, SWFX y otras informaciones relacionadas con el Trading,
llámenos o haga una solicitud de devolución de llamada.
Para obtener más información sobre la posible cooperación, por favor llámenos o haga una solicitud de devolución de llamada.
Para obtener más información sobre las opciones binarias de Dukascopy Bank / La plataforma de operaciones de Forex, SWFX y otra información relacionada con el Trading, por favor llámenos o solicite una devolución de llamada.
Para conocer más sobre la plataforma de Trading de CFD y Forex de Dukascopy Bank, SWFX y otras informaciones relacionadas con el Trading,
llámenos o haga una solicitud de devolución de llamada.
Para obtener más información acerca de la plataforma de operaciones Crypto Trading / CFD / Forex, SWFX y otra información relacionada con el comercio,
llámenos o realice una solicitud de devolución de llamada.
Para obtener más información sobre Business Introducer y otra información relacionada con el comercio,
llámenos o realice una solicitud de devolución de llamada.
Para obtener más información sobre la posible cooperación, por favor llámenos o haga una solicitud de devolución de llamada.