Canada ADP jobs report plunges
February 18, 2021SharePrint
The Canadian dollar is down slightly in the Thursday session. Currently, USD/CAD is trading at 1.2703, up 0.02% on the day.
Loonie yawns as ADP nonfarm payrolls slides
Canada’s ADP nonfarm payrolls report has managed just one gain over the past five months, pointing to weakness in the labor market. After a small decline in December of -28.8 thousand, January was a disaster, with the economy shedding some 231.2 thousand jobs. The ADP report comes after the official Stats Canada release two weeks ago (Employment Change), which came in at -212.8 thousand, its worst reading since April 2020, when the economy was largely shut down due to Covid-19. These releases point to significant weakness in Canada’s labor market. Still, investors did not pay all that much attention to the ADP report, perhaps expecting a sharp decline after the official release. The response of the Canadian dollar has been muted on Thursday.
All eyes on Canada, US job numbers
February 5, 2021SharePrint
The Canadian dollar has reversed directions on Friday and has recorded slight losses. Currently, USD/CAD is trading at 1.2801, down 0.19% on the day. Traders should be prepared for stronger movement from the pair in today’s North American session, with the release of key job numbers on both sides of the border (13:30 GMT).
Will US nonfarm payrolls surge?
US Nonfarm payrolls are one of the most important economic indicators and will be closely monitored. The street consensus for January is for a small gain of 85 thousand new jobs, after a dismal reading of -140 thousand in December. However, what is creating a buzz and speculation that the actual reading could be much higher is the ADP Nonfarm Payroll report, which was released earlier this week. That report showed a gain of 174 thousand, crushing the estimate of 48 thousand. In recent months ADP reports have been a reliable indicator of the trend in job creation, and
USD/CAD Video 05.02.21.
Canadian Dollar Moves Higher Ahead Of The Weekend
USD/CAD is currently trying to settle below the support at 1.2775 while the U.S. Dollar is losing ground against a broad basket of currencies.
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The U.S. Dollar Index managed to get below the support at 91.30 and is currently trying to settle below the next support level at 91.10. If this attempt is successful, the U.S. Dollar Index will move towards the 50 EMA at 90.85 which will be bearish for USD/CAD.
Today, U.S. reported that Unemployment Rate declined from 6.7% in December to 6.3% in January. Meanwhile, Non Farm Payrolls report indicated that the economy added 49,000 jobs in January. All recent U.S. employment reports highlighted the recovery of the U.S. job market.
Feb 2, 2021 23:17 GMTFXStreet News
NZD/USD rises over 30 pips following the strong beat to the NZ Q4 jobs report.
New Zealand Unemployment Rate, Employment Change both came in better than downbeat forecasts and prior.
US dollar gains amid stimulus hopes, receding retail rush and sustained weakness in European data.
China’s Caixin Services PMI, risk catalysts will be important for fresh direction.
NZD/USD bulls are unstoppable while eyeing the 0.7200 following New Zealand’s (NZ) jobs report for the fourth quarter (Q4), published during the initial Asian session on Wednesday. The pair jumped notably after the headlines Unemployment Rate and Employment Change beat expectations and prior to the positive side. Late on Tuesday, New Zealand’s GDT Price Index details were also supportive to the bulls.
Feb 2, 2021 23:37 GMTFXStreet News
AUD/NZD stays heavy near recently flashed two-month low.
New Zealand Unemployment Rate, Employment Change offered positive surprises in Q4.
Bearish MACD, sustained trading below 50-day SMA favor bears.
AUD/NZD takes offers near 1.0560 following its slump to the early December lows amid the initial Asian session trading on Wednesday. The quote declined heavily after New Zealand (NZ) jobs report for the fourth quarter (Q4) flashed strong data.
Read: New Zealand Q4 Unemployment Rate dropped below expectations of 5.6% to 4.9%, NZD/USD jumps 30 pips
The welcome figures help the AUD/NZD bears to direct the previous day’s downside break of 50-day SMA towards an ascending trend line from March 2020, currently around 1.0530, amid bearish MACD.