The publication of the index of changes in the Canadian unemployment rate and the growth of the value of the USD/CAD currency pair in the marketsDeltafx Admin 10 January 2023
Canada’s Employment Change Index measures the change in the number of people employed. Job creation is one of the most important indicators of consumer spending.
Reporting a higher than expected number should be considered positive/bullish for CAD, while reporting a lower than expected number should be considered negative/bearish for CAD.
The Canadian Employment Change Index was released at 1:30 am on January 6 and came in well above expectations at 104.0K. It should also be announced that the last period’s value of this index was 10.1K.
After the publication of this index was higher than expected, the value of the currency pair EUR/USD fell on the markets to 1.3432.