Eren Sengezer
08 Nov @ 01:40 (GMT+0)
Canada Unemployment Rate stays unchanged at 6.5% vs. 6.6% expected
- Unemployment Rate in Canada held steady at 6.5% in October.
- USD/CAD trades in positive territory above 1.3900 after the labor market data.
Statistics Canada reported on Friday that the Unemployment Rate in Canada remained unchanged at 6.5% in October. This reading came in below the market expectation of 6.6%.
On a yearly basis, Average Hourly Wages rose by 4.9%, following September's 4.5% increase. In the meantime, the Participation Rate edged lower to 64.8% from 64.9%, while the Net Change in Employment rose by 14.5K, falling short of analysts' estimate for an increase of 25K.
Market reaction
USD/CAD edged higher with the immediate reaction and was last seen rising 0.4% on the day at 1.3915.
Forex News
Keep up with the financial markets, know what's happening and what is affecting the markets with our latest market updates. Analyze market movers, trends and build your trading strategies accordingly.
