What will happen?

Canada will publish employment change and an unemployment rate on Friday, at 15:30 MT time. While employment change represents a change in the number of employed people during the previous month, the unemployment rate stands for the percentage of the total workforce that is unemployed and actively seeking employment during the previous month.

How to trade on the Canadian job data?

As the country tightened restrictions to curb coronavirus, employment levels dropped massively in January. While employment change fell by 212.8K, the unemployment rate rose to 9.4% (the highest level since September). Despite this negative news, the release was overshadowed by the disappointing NFP. As a result, the CAD strengthened against the USD but fell against other currencies.

If the employment change is higher, and the unemployment rate is lower than the forecasts, the CAD will get a boost;

In case of an alternative scenario, expect a drop of the CAD.

Instruments to trade: USD/CAD, EUR/CAD, GBP/CAD

Similar

12.02.2022 04:11

What will move the market on February 14-18?

Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!

29.01.2022 02:40

What will move the market on January 31-February 4?

The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?

21.12.2021 00:00

The US Inflation Is in Focus Again

The United States will publish Core PCE Price Index on Thursday at 15:30 GMT+2.

20.12.2021 23:00

Final Opportunity for the CAD

Canada will post Retail Sales and Core Retail Sales on December 21, at 15:30 GMT+2.

13.12.2021 23:50

Bank of England’s Statement

The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.

13.12.2021 23:30

Key Event for All Forex: Fed Statement

The US central bank, Federal Reserve, will announce its decision on further monetary policy on December 15 at 21:00 MT.

View all

What will happen?

How to trade on the Canadian job data?

Account opening