img CDN
img AUS
img NZ
img US
Call us now: 1.844.363.7297
imgOnline Dealing Login

US Job and Unemployment Numbers Disappoint/ USD/CAD moves to 1.2300’s

Published September 1, 2017
  • US Non-farm payrolls showed that the US economy added 156,000 jobs versus expectations of 180,000 new jobs last month; the US unemployment rate also showed a poor reading with .1% uptick to 4.4%
  • The US dollar immediately suffered sharp losses against its Canadian counterpart after today’s data releases; USD/CAD moved into the 1.2300’s for the first time since June 2015
  • Hopes for an interest rate hike from the US Federal Reserve have largely dissipated as investors continue to perceive recent US data as evidence of ongoing sluggishness and a detriment to the Fed’s inflation goals
  • Manufacturing data from Canada and the US is set to be released later this morning and could provide a further catalyst for volatility in the USD/CAD rate
  • Chinese manufacturing data picked up to a six month high as orders from the world’s 2nd largest economy improved; European manufacturing numbers also increased as the Eurozone experienced its fastest rise in export orders since February 2011
  • Oil prices continue to languish as the recovery from Hurricane Harvey continues to plague production and refinery capabilities in Texas; the storm caused a stoppage of at least 4.4 million barrels per day of refining capacity in the region