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Fundamental Forex Analysis

ADP Employment Change was -226,700 in April

  • ADP Employment Change slumped to -226.7K in April in Canada.
  • USD/CAD pair edged lower toward 1.3900 after the data.

Employment in Canada decreased by 226,700 jobs from March to April, the monthly data published by the ADP Research Institue revealed on Thursday. This reading followed March’s decline of 177,300.

Commenting on the data, “the labour market experienced a sharp decline in April as a result of COVID-19,” said Ahu Yildirmaz,
vice president and co-head of the ADP Research Institute. “The industries hardest hit by job losses were trade, leisure and hospitality, education and finance.”

Market reaction

Despite this data, the USD/CAD pair edged lower and was last seen trading unchanged on the day at 1.3898.

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