Canada was expected to lose 4.2K jobs after the superb gain of 95K. It lost only 0.4K jobs, so this is within expectations. The unemployment rate was expected to remain unchanged at 7.1%.
USD/CAD traded above 1.05 before the release and is now above 1.06, due to the excellent jobs report from the US. — updates coming —
A worrying figure is the division between part time and full time jobs: there has been a gain of over 32K part time jobs, contrasting a loss of 32K full time jobs. This is not the desired composition.
Yet again, the Canadian jobs report was released together with the Non-Farm Payrolls report in the United States.
The US gained 195K jobs in May and saw positive revisions for previous figures. Here are more NFP details.
A significant level on the top is 1.0658. 1.0446 is on the downside. For more levels, events and analysis see the USD/CAD forecast.
