Canada Employment: More modest gains in the coming months – NFB

FXStreet Team FXStreet

Next Thursday, the Canadian employment report will be released. Analysts at National Bank of Canada expect a gain of 10,000 in jobs in March.

Key quotes:

“In Canada, March’s Labour Force Survey will be watched closely. The job market has been extraordinarily strong recently, with headcounts expanding by 350,000 over the past 6 months. And while signs of an upcoming reversal remain few and far between, we think such a pace is unsustainable in the medium term.”

“We thus expect more modest gains in the coming months, starting with a +10K result in March. Despite this gain, and assuming that the participation rate remained unchanged at 65.7%, the unemployment rate could still increase by one tenth to 5.1%, the result of yet another sharp expansion of the labor force.”

Author

FXStreet Team

FXStreet

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.