- Employment in Canada rose less than expected in January.
- USD/CAD continues to trade in positive territory above 1.3250.
The Automatic Data Processing’s Employment Change for Canada arrived at 25,900 in January following December’s reading of 46,200 and fell short of the market expectation of 71,800.
“The January labour market experienced an increase in payroll, driven by strong gains in trade, transportation and utilities, construction and healthcare.” noted Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “However, natural resources and mining, information and leisure and hospitality posted job losses.”
The loonie’s reaction to the data was muted and the USD/CAD pair was last seen trading at 1.3260, adding 0.32% on a daily basis.