Canada’s labor market figures were around below expectationyes, although without generating big surprises. The Net change in employment was positive at 83,600, below the consensus of 100,000, and lower than the 378,200 in September.
The unemployment rate went from 9% to 8.9%, higher than the 8.8% expected. The labor participation rate rose from 65% to 65.2%. Average hourly wages were up 5.25% from a year ago, unchanged from the September reading of 5.43%.
The Canadian dollar it appreciated after the publication of the labor market figures. USD / CAD fell below 1.3050, marking a new low since the Asian session.
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Credits: Forex Street
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