Canadian June 2018 unemployment and May trade report on 06.07.2018

  • prior -7.5K
  • Unemployment rate 6.0% vs 5.8% exp, prior 5.8%
  • Full time employment change 9.1K vs prior -31K
  • Part time employment change 22.7 K vs prior 23.6K
  • Participation rate 65.5% vs 65.3% exp, prior 65.3%
  • May 2018 Trade balance -2.77B vs -2.05B exp, prior -1.90B, revised to -1.86B
  • Exports 48.34B vs prior 48.56B, revised to 48.4B
  • Imports 51.12B vs prior 50.47B, revised to 50.26B


USDCAD dumped to 1.3085 on the better headline before coming back to 1.3115. The higher participation rate puts the overall unemployment rate back up a notch.
Part timers were the highest number being hired. I wouldn’t expect to much of a move once we settle down and algo’s have done their thing tbh.

From July onwards the trade balance should increase in importance as tariffs will show their impact.


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