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Any optimism for the Canadian labor market?

Any optimism for the Canadian labor market?

Updated

What will happen?

Canadian Employment Rate and Unemployment Change are announced on April 9, at 15:30.

Since May, which saw the unemployment rate reach 13.7% in Canada, this indicator has been going down until it came to 8.5% in November. After that, however, it started growing again and reached back up to 9.4% in January. February saw a drop to 8.2% - the lowest since the start of the pandemic in March. It was good news as the market was expecting 9.4%.

How to trade the Canadian jobs data?

This time, the expectation is 8.2% for the unemployment rate in Canada. Any major deviation from that may lead to a corresponding reaction in the course of the CAD.

  • If the unemployment rate is lower than expected, the CAD may gain value;
  • Otherwise, the CAD will drop.

Instruments to trade: AUD/CAD, USD/CAD, CAD/JPY, GBP/CAD

Check the economic calendar

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