Canadian Employment Change


Fx News Spike Signals by Crazy Cat, 2018/02/09

Release Time: 08:30 New York time (EST)
Primary currency pair: EUR/CAD, USD/CAD
Forecast: +10K
Prior: +78.6K
LT1 (Lower Trigger 1): -25 [BUY]
UT1 (Upper Trigger 1): +25 [SELL]

If the Canadian Employment Change comes at -15K or more negative ( -25 trigger), USD/CAD should go up by about 35 pips. If it comes out at 35K or higher ( +25 trigger), USD/CAD should go down by about 35 pips.

Based on 15 estimates, median estimate is 10K and the average estimate is 9.8K. The highest estimate is +50K (one vote), and then 37K (one vote), 28K (one vote), 20K (two votes), 13K (one vote) and 10K (two votes).

The lowest estimate is -12K (one vote), and then -10K (two votes), then -9K (one vote), -5K (one vote), 0K (one vote) and finally +5K (one estimate). One standard deviation is +/- 18K, up from 12K last month.

Please note that SNW Enterprise is usually much faster than SNW Elite or Pro for Canadian reports.

Keep in mind we will also have the unemployment rate coming out. If they conflict between each other, I would try exit as soon as possible.

Remember that while higher Canadian Employment is good for CAD (selling pressure on USD/CAD or EUR/CAD), higher unemployment rate is bad for CAD (buying pressure on USD/CAD or EUR/CAD). Therefore, ideally we would like to see higher employment change and lower unemployment rate, or lower employment change and higher unemployment rate.



It is always good to visit our Forex economic calendar so you can check past charts for this report. Sometimes this report works really well, sometimes doesn't work at all so it's good to know what to expect.

Forex news history and charts

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