Canadian Employment Change

Fx News Spike Signals by Crazy Cat, 2019/08/09

Release Time: 08:30 New York time (EST)
Primary currency pair: EUR/CAD, USD/CAD
Forecast: 15K
Prior: -2.2K
LT1 (Lower Trigger 1): -20 [BUY]
UT1 (Upper Trigger 1): +20 [SELL]
Safety: 199

If the Canadian Employment Change comes at -5K or more negative ( -20 trigger), USD/CAD should go up by about 30 pips. If it comes out at 35K or higher ( +20 trigger), USD/CAD should go down by about 30 pips.

Based on 15 estimates, the median estimate is 15K and the average estimate is 16.6K. The highest estimate is +35K (one vote), and then 34K (one vote), 29K (one vote), 25K (one vote), 20K (one vote) and 16K (one vote).

The lowest estimate is 3K (one vote), then 5K (one vote) and then 7K (one vote), 10K (three votes), and finally 15K (three estimates). One standard deviation is +/- 9.7K, down from 18.5 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 with each other, I would try to exit as soon as possible.

Remember that while higher Canadian Employment is good for CAD (selling pressure on USD/CAD or EUR/CAD), the 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 the 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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