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Canada’s jobs number not good

By MoneyWay | Apr 5, 2019

The employment numbers for Canada were not good, the drop was significant as these were full time jobs, expectations of a gain of 6,000 new jobs did not materialize. This news definitely puts any rate hikes by the Bank of Canada on hold for this year. As a result, the Canadian dollar has weakened even with oil prices nearing the $63 USD mark, expect continued weakness in the short term.

Currently             Close                     Range

USDCAD               1.3386                   1.3359                   1.3349-1.3403   

EURCAD               1.5016                   1.4989                   1.4987-1.5061

GBPCAD               1.7417                   1.7467                   1.7393-1.7529

                                                                                Prior                      Actual

CA: Employment March                                55.9K                     -7.2K

       Unemployment rate                               5.8%                      5.8%

US: Nonfarm Payrolls March M/M            33K                         106K

       Unemployment rate                               3.8%                      3.8%

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