Employment data in Canada

• Change in employment (January), fact 66.8K, forecast 8.0K.
• The unemployment rate (January), fact 5.8%, the forecast 5.7%.

The January employment report in Canada was very mixed. Thus, the unemployment rate rose more than expected by 0.2%, departing from multi-year lows. But at the same time, on the other hand, the number of people employed in Canada has significantly increased, returning the employment report to a positive direction and pointing out the possibility of returning unemployment to historic lows.

Fig. 1. Graph of the mployment changes in Canada

As a result, the USD/CAD pair received a significant support, limited to the general upward trend. Significant support: 1.3240 and 1.3200.

Fig. 2. USD/CAD chart. Current price – 1.3250

Read also: “Fundamental analysis: interest rate and its impact on the exchange rate”

Hanzenko Anton

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