Dismal Canadian job numbers hit the wires

Canada adding just 200 jobs compared to 20,000 expected isn’t very good. The unemployment rate has fallen as has the participation rate and the full to part time merry-go-round continues with yet more big swings. The US Non-farm productivity rose better than expected but was revised down last quarter to the lowest since Q4 1981. While labour costs for the quarter shrank there was a massive upwards revision to Q1 2014.

The EUR/USD pair is steady today. It’s a quiet day on the release front as we wrap up the trading week. In the Eurozone, German Trade Balance softened, while French Industrial Production rebounded with its strongest gain of the year.

Sterling hit an eight-week low against the dollar and fell against the euro on Friday as investors moved towards traditionally lower-yielding safe haven currencies after the United States authorised air strikes against militants in Iraq. The British pound also weakened after data showed the UK’s trade deficit widened, extending the losses of the previous days of the week, which had seen the Bank of England leaving policy rates unchanged, industrial output growth slowing and GDP estimates sliding.

At the time of writing the SPOT rate for USD/CAD is trading in the mid 1.09’s, EUR/USD is trading in the low 1.34’s, and the GBP/USD is trading at the low 1.68’s.

One Response to Dismal Canadian job numbers hit the wires

  1. Pingback: My Top 2 Working Money Schemes - Binary Option Evolution

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