USD/CAD Technische Analyse - USD/CAD Handel: 2025-01-13

Canada’s employment change and unemployment data for December were much better than expected. The Statistics Canada reported the number of employed people during the previous month rose by 90.9 thousand in December after 50.5 thousand increase in November when a growth of only 24.9 thousand was expected. At the same time the Canadian unemployment rate ticked down to 6.7% from 6.8%. And the employment rate — the proportion of the population aged 15 and older who are employed — increased 0.2 percentage points to 60.8% in December, after holding steady in November. The increase in December was the first since January 2023. The Statistics Canada reported also average hourly wages continued rising on annual basis in December albeit at slower rate: at 3.8% after 4.1% growth in November. Stronger Canadian labor market report is bullish for Canadian dollar and bearish for USDCAD pair. However, the US nonfarm payroll also came in much stronger than expected: US payrolls rose 256 thousand in December versus the 165 thousand consensus estimate. Stronger US nonfarm payrolls report is bullish for dollar and the USDCAD pair.