Usually the US NFP report and Canadian employment report is released on the same day, but for April Canada will report its figures this coming Friday. The jobs report I March showed a very strong 42,900 jobs were created and should April follow the NFP reports path of a very strong performance it should boost the Canadian Dollar quite reasonably. Look out for Friday’s report as it will create great trading opportunities regardless of which way the figure will swing.
Yep, the expected numbers are down to 14k, so the old argument will prevail, is the expected priced in?.
Business conf is down for March, mnfctr pmi down for April - both reflecting the lower exp number.
The caveat in above is the level of new orders - very healthy numbers being reported, actually very, very healthy numbers.
Some good reading on CAD:
Loonie rises on solid U.S. data, markets look to key jobs, trade reports - The Globe and Mail
Hi peterma,
the medium and long term outlooks seem to be good for the Canadian Dollar based on what I read about production and consumer spending. I am only skeptical about crude oil production which has a big impact on CAD. The US produces more crude oil now so Canada might not use their full capacity which can result in worse numbers. How do you see the long term outlook and the case with oil?
ForExchange
I think it is always important to dig through the reports and not just be blinded by the headline figures.