Canadian Employment Change

Fx News Spike Signals by Crazy Cat, 2018/06/08

Release Time: 08:30 New York time (EST)
Primary currency pair: EUR/CAD, USD/CAD
Forecast: +23.5K
Prior: -1.1K
LT1 (Lower Trigger 1): -25 [BUY]
UT1 (Upper Trigger 1): +25 [SELL]
Safety: 199

If the Canadian Employment Change comes at -1.5K or more negative ( -25 trigger), USD/CAD should go up by about 35 pips. If it comes out at 48.5K or higher ( +25 trigger), USD/CAD should go down by about 35 pips.

Based on 14 estimates, median estimate is 23.5K and the average estimate is 22.3K. The highest estimate is +35K (two votes), and then 30K (one vote), 29K (two votes), and 25K (two votes).

The lowest estimate is 8K (one vote), and then 12K (one vote), then 15K (three votes), 17K (one vote), and finally 22K (one estimate). One standard deviation is +/- 8.4K, up from 5.1K 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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