Canada: Economy likely to add 25k jobs in October – TDS


Analysts at TD Securities are looking for the Canadian economy to add 25k jobs in October, well above the market consensus for 15k.

Key Quotes

“Temporary federal election hiring will provide a significant tailwind to the headline print; in the previous three election cycles, public administration employment rose by 32k on average during the month of the vote. This will push the unemployment rate back to its cycle low of 5.4%, while muted base-effects should see wage growth firm to 4.4% (market: 5.5%, 4.2%).”

“October housing starts will be release shortly ahead of the LFS; we look for a modest pickup to a 229k pace from 221k in September (market: 220k), consistent with sustained momentum in residential investment into Q4. At 13:30 ET we will hear from BoC Deputy Governor Beaudry when he delivers the opening remarks to the John Kuszczak Memorial Lecture.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD holds around 1.0900 despite sentiment deteriorates

An unattractive dollar helped EUR/USD reach 1.0926, its highest in a week. The positive market’s mood that lead the way ever since the week started begun to ease. Wall Street trimmed early gains, ends the day mixed.

EUR/USD News

AUD/USD struggles near 0.6200

 

The AUD/USD pair is losing some ground after flirting with the 0.6200 level, weighed by US indexes losing ground ahead of the close. RBA’s optimistic stance underpinned the Aussie.

AUD/USD News

Coronavirus figures: Why traders should ignore Mondays and Tuesdays, focus on other stats

 Figures on Mondays tend to show a drop in cases and deaths in various places in the world. such as Spain, and New York's figures all provide hope, contributing to a massive stock market rally on Monday, April 6.

Read more

Gold: Investors could be getting complacent and gold is great barometer

he USD 1640.00 level is a decent support level to watch as it has been used on six occasions and seem reliable. Even if it does break it will tell you a lot about the state of the market and the perception of the safe-haven asset.

Gold News

WTI taking a breather below $30.00 a barrel

WTI consolidates last week’s advance as WTI is weighing the Trump tweet suggesting that a Saudi-Russian deal has been concluded. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures