Canada created 21,100 jobs during the month of September, somewhat above the 20,000 expected, after 39,700 jobs were destroyed in August. In fact, this is the first month in which employment is created after three consecutive months with losses.
The unemployment rate has dropped two tenths, standing at 5.2% vs. 5.4% prior and forecast. The participation rate has moderated slightly to 64.7% from 64.8% previously.
Salaries for now increased by 5.2%, without reaching the 5.58% seen in August, being the lowest increase since May.
USD/CAD reaction
The USD/CAD has been affected by employment data from Canada and the United States, both better than expected. The pair has reacted in favor of the US dollar, rising 35 pips to 1.3760, the highest level of the day already tested earlier in the European morning. At time of writing, USD/CAD has moderated and is trading above 1.3746, shedding 0.02% on the day.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
