Canada Unemployment Rate edged higher to 6.7% in March
- The Unemployment Rate in Canada rose to 6.7% in March as expected.
- USD/CAD clings to strong daily gains near 1.4200 after the data.
The Unemployment Rate in Canada edged higher to 6.7% in March from 6.6% in February, Statistics Canada reported on Friday. This reading came in line with the market expectation.
In this period, the Net Change in Employment was -32.6K, down sharply from the 1.1K increase recorded in February. Other details of the report showed that the Participation Rate ticked down to 65.2% from 65.3%, while the Average Hourly Wages rose by 3.5% on a yearly basis, compared to February's 4% increase.
Market reaction
USD/CAD preserves its bullish momentum and trades near 1.4200, where it was up more than 0.7% on the day.
Canadian Dollar PRICE Today
The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the weakest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.29% | 0.73% | -0.25% | 0.74% | 3.25% | 2.54% | -0.72% | |
| EUR | -0.29% | 0.49% | -0.47% | 0.50% | 2.97% | 2.28% | -0.96% | |
| GBP | -0.73% | -0.49% | -0.93% | 0.00% | 2.47% | 1.79% | -1.45% | |
| JPY | 0.25% | 0.47% | 0.93% | 0.96% | 3.46% | 2.69% | -0.50% | |
| CAD | -0.74% | -0.50% | -0.01% | -0.96% | 2.44% | 1.74% | -1.45% | |
| AUD | -3.25% | -2.97% | -2.47% | -3.46% | -2.44% | -0.67% | -3.83% | |
| NZD | -2.54% | -2.28% | -1.79% | -2.69% | -1.74% | 0.67% | -3.18% | |
| CHF | 0.72% | 0.96% | 1.45% | 0.50% | 1.45% | 3.83% | 3.18% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).
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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.
