Noor Trends News, Technical Analysis, Educational Tools and Recommendations
US Nonfarm payrolls report rose by 210000, lower than the expected 550000. Canadian Employment Change increased 5 times as many as estimations while the Unemployment Rate has fallen.
USD/CAD threatens to break the 200-hour SMA, that once breached, would send the pair dipping towards 1.2700.
During the New York session, the USD/CAD has plunged on a disappointing US Nonfarm payrolls data, down by 0.46%, trading at 1.2746. In the last hour, US and Canada reported employment figures.
US Nonfarm payrolls disappoint, while Canadian Employment Change smash expectations, on Friday, the US Bureau of Labor Statistics reported that in November, the US economy added just 210000 new jobs, versus the 550000 expected.
Although the headline miss is substantial, it seems to ease investors’ reaction, as the Unemployment Rate for November fell three tenths from 4.5% in October to 4.2%.
It is worth mentioning that 79.900 of the total jobs are full-time. Another positive from November’s data is that Unemployment Rate dropped from 6.7% to 6.0%.
