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November 19, 2019
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Forex

Canadian Dollar: Loonie Sinks on Weak Jobs Report, Housing

CANADIAN DOLLAR, CANADA JOBS REPORT, BOC – TALKING POINTS:

The Canadian Dollar (CAD) is coming beneath heightened promoting strain following the most recent change in employment and housing information. Canada’s internet change in employment for October got here in at a disappointing -1.8K in comparison with estimates on the lookout for a 10.0K print. Looking beneath the hood, particulars of the Canada jobs report have been even bleaker, which revealed a -16.1K lower in full time employment.

CANADIAN JOBS REPORT & HOUSING STARTS DATA (OCTOBER 2019)

Although, the Canadian unemployment price held regular at 5.5% as anticipated. Prior to the discharge of the most recent Canadian employment figures, information on housing begins crossed the wires at a worse-than-expected 202.0K in comparison with the market consensus of 222.5K.

CANADIAN DOLLAR CURRENCY INDEX PRICE CHART: 2-HOUR TIME FRAME (SEPTEMBER 30, 2019 TO NOVEMBER 08, 2019)

Canadian Dollar Price Chart

The Canadian Dollar Currency Index is at the moment buying and selling -Zero.37% decrease on the day following the info. USD/CAD prolonged positive factors to intraday highs whereas CAD/JPY wilted to an intraday low. AUD/CAD reversed earlier draw back whereas EUR/CAD is transferring greater.

Check out this Canadian Dollar Forecast for complete elementary and technical outlook on the Loonie with extra perception on how CAD value motion stands to be impacted by the Canadian jobs report and adjustments in BOC price reduce expectations.

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