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7 Feb 2020

Canada: Unemployment Rate edged lower to 5.5% in January vs. 5.6% expected

Unemployment Rate in Canada fell to 5.5% in January.
USD/CAD lost its traction after the data and dropped to 1.3280 area.

The data published by Statistics Canada on Friday showed that the Unemployment Rate in Canada fell to 5.5% in January from 5.6% in December to beat the market expectation of 5.6%.

"The additional employment in January contributed to gains totalling 268,000 (+1.4%) since January 2019," Statistics Canada noted in its press release. "All of this increase was the result of growth in full-time employment. Over the same period, total hours worked increased 0.5%."

USD/CAD slides after the data

With the initial market reaction, the USD/CAD pair erased more than 30 pips in a matter of minutes and was last down 0.03% on the day at 1.3281.

Feb 7, 2020

EUR/USD stays depressed post-Payrolls, around 1.0960

The selling pressure around the European currency remains unaltered on Friday, with EUR/USD hovering around the 1.0960/50 region in the wake of US Pay

USD/JPY spikes to 110 after stong NFP reading

The USD/JPY spiked to the 110 mark with the initial market reaction to the Nonfarm Payrolls (NFP) report from the US but struggled to preserve its mom