|

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.

 USDEURGBPJPYCADAUDNZDCHF
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%
JPY0.25%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%
CHF0.72%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).


BRANDED CONTENT

Finding the right broker for your trading strategy is essential, especially when specific features make all the difference. Explore our selection of top brokers, each offering unique advantages to match your needs.

Author

Eren Sengezer

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.

More from Eren Sengezer
Share:

Editor's Picks

EUR/USD retakes 1.1800 on renewed USD weakness

EUR/USD gains ground after three days of losses, re-attempting 1.1800in the European trading hours on Thursday. The US Dollar sees fresh selling interest across the board, despite hawkish Fed Minutes, as the market mood improves and supports the pair. US Jobless Claims data, Fedspeak and geopolitics remain in focus. 

GBP/USD recovers above 1.3500 amid better mood

GBP/USD finds fresh demand and rises back above 1.3500 in the European session on Thursday. Improving risk sentiment and renewed US Dollar weakness are helping the pair recover ground ahead of mid-tier US data releases and Fedspeak. 

Gold clings to gains above $5,000 amid safe-haven flows and Fed rate cut bets

Gold sticks to modest intraday gains, above the $5,000 psychological mark, through the first half of the European session, though it lacks bullish conviction amid mixed cues. The third round of US-mediated negotiations between Ukraine and Russia concluded in Geneva on Wednesday without any major breakthrough.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments. The technical outlook suggests further gains if INJ breaks above key resistance.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.