According to the recent report published by Statistics Canada, the rate of employment declined by 30 000 jobs in July. Most of them belonged to the private sector.
In general, the rate of unemployment increased by 0.1% up to 7.3% last month. Over the last 12 months, the employment increased by 139 000 new jobs or 0.8%.
In terms of job cuts, July’s biggest losers are scientific, technical and other services, as well as wholesale and retail trade, natural resources and public administration. As for Canadian provinces, the biggest job cuts were sin in British Columbia, Quebec and Manitoba.
Forex.
According to , the Canadian Dollar keeps strengthening against the US Dollar. The experts report that USDCAD is forming wave C of level H12-16 of the downtrend.
The closest level of support is 0,9838. On breaking below 0,9826, the price may accelerate to downtrend through increasing the wave level of the current downswing. On breaking above 1,0230 and the top of the MF sloping channel, the price will reverse the current bearish move of USDCAD.
