Data on employment in Canada in focus!
Dear traders,
At 15:30 (Kiyv) a report on employment in Canada for January will be published!
According to economists’ forecasts, 10,000 jobs were created last month in Canada after creating 54,500 jobs in December, while the unemployment rate will rise to 5.8% after a 5.7% increase in the previous month.
The leading analyst of Ester A.Sivtsov writes:
“According to the forecast, in January the change in employment in Canada will be 44.1 thousand, which is lower than the December figure at 78.6 thousand. The unemployment rate will rise to 5.8%, against the previous value of 5.7%. The release of data within the forecast will put pressure on the Canadian currency, against which it is expected to decrease of the Canadian dollar within 40 points against the basket of currencies.”
Last month, the Bank of Canada raised the interest rate in line with analyst forecasts. However, the central bank of Canada stated that despite the guaranteed increase in the interest rate in the future, some of its officials consider it necessary to maintain a soft monetary policy to support economic growth and inflation.
Have a good trade, Gentlemen!
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