Canadian Employment Change

Fx News Spike Signals by Crazy Cat, 2019/11/08

Release Time: 08:30 New York time (EST)
Primary currency pair: EUR/CAD, USD/CAD
Forecast: 15K
Prior: 53.7K
LT1 (Lower Trigger 1): -30 [BUY]
UT1 (Upper Trigger 1): +30 [SELL]
Safety: 199

If the Canadian Employment Change comes at -15K or more negative ( -30 trigger), USD/CAD should go up by about 30 pips. If it comes out at 45K or higher ( +30 trigger), USD/CAD should go down by about 30 pips.

Based on 17 estimates, the median estimate is 15K and the average estimate is 12K. The highest estimate is +40K (one vote), and then 25K (four votes), 23K (one vote), and 20K (two votes).

The lowest estimate is -15K (one vote), then -11K (one vote) and then -10K (one vote), -8K (one vote), then +5K (two votes), 10K (two votes) and finally +15K (one estimate). One standard deviation is +/- 15.3K, up from 12.5 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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