Loonie Sinks on Weak Jobs Report, Housing
CANADIAN DOLLAR, CANADA JOBS REPORT, BOC – TALKING POINTS:
The Canadian Greenback (CAD) is coming underneath heightened promoting strain following the newest change in employment and housing knowledge. Canada’s internet change in employment for October got here in at a disappointing -1.8K in comparison with estimates in search of a 10.0K print. Trying underneath the hood, particulars of the Canada jobs report have been even bleaker, which revealed a -16.1K lower in full time employment.
CANADIAN JOBS REPORT & HOUSING STARTS DATA (OCTOBER 2019)
Though, the Canadian unemployment price held regular at 5.5% as anticipated. Previous to the discharge of the newest Canadian employment figures, knowledge on housing begins crossed the wires at a worse-than-expected 202.0K in comparison with the market consensus of 222.5K.
CANADIAN DOLLAR CURRENCY INDEX PRICE CHART: 2-HOUR TIME FRAME (SEPTEMBER 30, 2019 TO NOVEMBER 08, 2019)
The Canadian Greenback Foreign money Index is at present buying and selling -0.37% decrease on the day following the info. USD/CAD…