- Private sector employment rises sharply in July in Canada.
- USD/CAD ignores the data, continues to push higher.
According to the data published by the Automatic Data Processing (ADP) Research Institue, non-farm employment in Canada rose by 73,700 in July following June's reading of 30,400.
“We saw strong job growth in July,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “The job gains were broadly distributed across the majority of industries with trade, leisure and hospitality, and construction leading the way.”
Despite this upbeat reading, however, the USD/CAD pair continues to push higher amid broad-based USD strength. As of writing, the pair was up 0.1% on the day at 1.3330.
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.