Canada: Non-farm employment increased by 73,700 in July - ADP

Private sector employment rises sharply in July in Canada.
USD/CAD ignores the data, continues to push higher.

Eren Sengezer FXStreet

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.

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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