Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View More
Live Data Coverage: February Canada Jobs Report w/ Christopher Vecchio, CFA

Live Data Coverage: February Canada Jobs Report w/ Christopher Vecchio, CFA

Christopher Vecchio, CFA, Senior Strategist
Advertisement

Canada Jobs Preview:

  • According to a Bloomberg News survey, consensus forecasts call for a gain of +52.5K jobs after a loss of -212.8K previously.
  • Ongoing strength in energy markets has helped bolster CAD-crosses; CAD/JPY is pressing fresh yearly highs amid its bullish breakout attempt.
  • Will USD/CAD test its yearly lows? Can CAD/JPY keep its bullish breakout going? Will energy markets remain supportive? We’ll discuss these questions and more in context of the February Canada jobs report starting at 8:20 EST/13:20 GMT. You can join live by watching the stream at the top of this note.

Looking for a Rebound

After a harrowing reading of -212.8K in January, the Canadian labor market is looking for a relatively modest expansion in February. Bloomberg News consensus forecasts call for the February Canada jobs report to show that the economy added +52.5K jobs.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Christopher Vecchio, CFA
Trading Forex News: The Strategy
Get My Guide

The unemployment rate is expected to fall back to 9.3% from 9.4%, after sharply moving off of the November 2020 low of 8.5%. A better reading of the Canadian labor report alongside further strength in energy prices may allow for the Loonie to regain its footing by the end of the week.

Will USD/CAD test its yearly lows? Can CAD/JPY keep its bullish breakout going? Will energy markets remain supportive? We’ll discuss these questions and more in context of the February Canada jobs report starting at 8:20 EST/13:20 GMT. You can join live by watching the stream at the top of this note.

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES