OctaFX | OctaFX Forex Broker
Open trading account
Back

Canada: Healthy job market – RBC

Josh Nye, a senior analyst at RBC Economics, reviews the Canadian employment data released today. The data seem not to have affected USD/CAD after the pair raised early in the morning to 1.3312.

Key quotes

“Today's data suggest the labour market is far from grinding to a halt.”

“Job gains over the last six months averaged a healthy 20,000 and nearly all of that was full-time work.” 

“A low unemployment rate—now just 0.1 percentage point above its cycle low—also goes against the BoC's view that the economy is no longer close to full capacity.”

“Today's data reduce the urgency for the BoC to lower rates (market pricing for a cut pushed back from September to October) though we continue to think the door is open to a rate cut if the economy's rebound early this year proves underwhelming.”

 

Oil: Under pressure waiting for Russia’s response – TDS

The reduction of 600k barrels per day in production recommended by the OPEC technical committee is thought to be seen as an exaggeration by Russia. Oi
Read more Previous

Oil: Prices to recover in the next weeks – ANZ

The effects of coronavirus on oil demand are not considered to have an impact in the long-term, and alongside a tightening in supply should lead to a
Read more Next
Start livechat