- Unemployment Charge in Canada stayed unchanged at 4.9% in July.
- USD/CAD posts sturdy each day positive factors above 1.2950 after the information.
The Unemployment Charge in Canada was nearly unchanged at 4.9% in July, Statistics Canada reported on Friday. This studying got here in barely higher than the market expectation of 5%.
On a damaging be aware, Web Change in Employment arrived at -30.6K, lacking analysts’ estimate for a rise of 20,000 by a large margin.
“The typical hourly wages of staff had been up 5.2% (+$1.55 to $31.14) on a year-over-year foundation in July, matching the tempo of wage development recorded in June,” the publication additional learn.
Market response
The USD/CAD pair rose sharply within the early American session however this transfer appears to have been fueled by the renewed greenback energy on the upbeat US July jobs report. As of writing, the pair was up 0.75% on the day at 1.2960.
