Canada's Unemployment Rate drops to 6.4% in July

The Unemployment Rate in Canada dropped to 6.4% in July.
USD/CAD remains on the back foot near 1.3950 on Friday.

FXStreet Team FXStreet

Statistics Canada reported on Friday that the Unemployment Rate decreased to 6.4% in July, below what markets were expecting.

Additionally, the Net Change in Employment increased by 75.1K jobs, adding to the 18.2K gain we saw in the prior month. In addition, the participation rate ticked a tad higher to 65.1%, and wages are growing at a 3.0% annual pace, down from June’s 3.7% yearly gain.

Market reaction

In the wake of the release, the Canadian Dollar (CAD) regains buying pressure, motivating USD/CAD to break below the psychological 1.4000 threshold for the first time since mid-June.

Canadian Dollar Price Today

The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the strongest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.35%	-0.26%	-0.79%	-0.41%	-0.52%	-0.45%	-0.62%
EUR	0.35%		0.09%	-0.44%	-0.05%	-0.18%	-0.11%	-0.26%
GBP	0.26%	-0.09%		-0.57%	-0.15%	-0.27%	-0.19%	-0.35%
JPY	0.79%	0.44%	0.57%		0.40%	0.29%	0.36%	0.18%
CAD	0.41%	0.05%	0.15%	-0.40%		-0.12%	-0.04%	-0.21%
AUD	0.52%	0.18%	0.27%	-0.29%	0.12%		0.08%	-0.10%
NZD	0.45%	0.11%	0.19%	-0.36%	0.04%	-0.08%		-0.17%
CHF	0.62%	0.26%	0.35%	-0.18%	0.21%	0.10%	0.17%

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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