Employment data for Canada in May
- The volume of construction of new houses in Canada, the fact is 195.6K, the forecast is 218.0K.
- Change in employment in Canada, the fact is -7.5K, the forecast is 17.5K.
- The unemployment rate in Canada, the fact is 5.8%, the forecast is 5.8%.
A very weak report on employment in Canada increased the pressure on the Canadian dollar, which was caused by a decline in the labor market in almost all aspects. The main negative note was the decline in employment for the second consecutive month, which renewed concerns about the labor market in Canada, which originated in February this year.
Fig. Chart of employment change in Canada
The pair USD / CAD, in turn, doesn’t hurry to accelerate growth significantly on the restrained dynamics of the American and limited by resistance 1.3030-50. At the same time on the timeframe H4 this pair continues to form an “ascending triangle”.
Fig. 2. USD / CAD Graph. The current price is 1.3000.
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Hanzenko Anton