Macro Trades: EUR/USD, USD/CAD

Dukascopy Bank Team Dukascopy Bank SA

EUR/USD: US Employment Data Set

The European Common Currency depreciated against the US Dollar, following the US Employment data set release on Friday at 12:30 GMT. The EUR/USD exchange currency rate lost 24 pips or 0.22% right after the release. The Euro continued trading at the 1.0965 level against the Greenback.

The Bureau of Labor Statistics released the US Unemployment Rate data, which came out better-than-expected of 3.5% compared with the forecast of 3.7%.

According to the official release: "In September, the unemployment rate declined by 0.2 percentage point to 3.5 percent. The last time the rate was this low was in December 1969, when it also was 3.5 percent. Over the month, the number of unemployed persons decreased by 275,000 to 5.8 million."

USD/CAD: Canadian Trade Balance

The US Dollar depreciated against the Canadian Dollar, following the Canadian Trade Balance data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate lost 13 pips or 0.10% right after the release. The Greenback continued trading at the 1.3306 level against the Canadian Dollar.

Statistics Canada released the Canadian Trade Balance data, which came out slightly better-than-expected of negative 1.0B compared with the forecast of negative 1.1B. Note that the US Employment data was released at the same time.

According to the official release: "Canada's exports rose 1.8% in August, mainly due to an increase in exports of energy products and aircraft. Imports were up 1.0%, mostly on higher imports of gold and crude oil. As a result, Canada's merchandise trade deficit narrowed from $1.4 billion in July to $955 million in August."

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