Canada: ADP Employment Change arrives at +1.04 million in June

ADP Employment Change in Canada came in above 1 million in June.
USD/CAD edges higher pressured by May's downward revision.

Eren Sengezer FXStreet

Employment in Canada increased by 1,042,900 from May to June, the monthly data published by the ADP Research Institue revealed on Thursday. Meanwhile, May's reading of +208,400 got revised down to -2,951,400.

Commenting on the data, “the labour market posted employment growth as a result of businesses reopening and many returning to work,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Nearly every sector showed positive gains with trade and professional business services leading the way. Manufacturing, however, experienced job losses.”

Market reaction

The USD/CAD pair edged higher after this data and was last seen gaining 0.22% on the day at 1.3540.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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