USD/CAD drops towards 1.2450 as Canada adds 230.7K jobs in June
|- Unemployment Rate in Canada dropped to 7.8% in June vs. 7.7% expected
- USD/CAD drops further below 1.2500 after the data.
The Canadian economy added 230,700 jobs in June when compared to 68,000 job losses reported in May and expectations of +195,000, the latest data published by Statistics Canada showed on Friday.
Meanwhile, the Unemployment Rate in Canada dropped to 7.8% in June from 8.2% in May, missing estimates of 7.7%.
Additional takeaways
Canada June full-time employment -33.2k, part-time employment +263.9k.
Canada June participation rate 65.2%; vs may 64.6%.
Canada June average hourly wage of permanent employees +0.1% YoY vs. May -1.4%.
Canada goods sector -48k jobs in June, services sector +278.6k jobs.
Market reaction
The USD/CAD pair dropped to a daily low of 1.2470 on a bigger-than-expected jump in job gains last month.
As of writing, the pair is trading at 1.2476, down 0.45% on the day.
USD/CAD 15-minutes chart
USD/CAD technical levels to consider
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