Felix Homogratus
Commander in Chief
- Messages
- 153
Canadian Employment Change comes out once per month at 7:00 am New York Time.
What they do is calculate the number of jobs in Canada this month versus previous month. When the number is positive, it means that there are more jobs in Canada this month over previous month. When the number is negative, it means that there are less jobs in Canada this month over previous month.
Higher number signifies that Canadian economy is doing better, which in turn means that Canada will be more likely to eventually increase its interest rate. When interest rate of a country is higher, it attracts investors to buy its currency, which increases the value of the currency versus other currencies.
So, when Canadian Employment number comes out better than expected, traders tend to speculatively buy Canadian dollars, so USD/CAD tends to go down. When Canadian Employment number comes out worse than expected, traders tend to speculatively sell Canadian dollars, so USD/CAD tends to go up.
To read more about Canadian Employment, visit the official website that releases it. The link is Statistics Canada: Canada's national statistical agency
I highly recommend you see the history of this indicator and charts of how it affected USD/CAD and other currencies. You can do that by following this link: Forex News Trading | Details and History for CAD Employment Change m/m
If you want me to email you 1 day before this report is released, and explain to you in details on how to trade it, then please sign up for my free trading signals by going to this link:
Forex Daily Trading Signals - Forex Peace Army Forum
In the signal, I tell you exactly how many pips the currency will most likely move, depending on the difference between expected and actual numbers.
What they do is calculate the number of jobs in Canada this month versus previous month. When the number is positive, it means that there are more jobs in Canada this month over previous month. When the number is negative, it means that there are less jobs in Canada this month over previous month.
Higher number signifies that Canadian economy is doing better, which in turn means that Canada will be more likely to eventually increase its interest rate. When interest rate of a country is higher, it attracts investors to buy its currency, which increases the value of the currency versus other currencies.
So, when Canadian Employment number comes out better than expected, traders tend to speculatively buy Canadian dollars, so USD/CAD tends to go down. When Canadian Employment number comes out worse than expected, traders tend to speculatively sell Canadian dollars, so USD/CAD tends to go up.
To read more about Canadian Employment, visit the official website that releases it. The link is Statistics Canada: Canada's national statistical agency
I highly recommend you see the history of this indicator and charts of how it affected USD/CAD and other currencies. You can do that by following this link: Forex News Trading | Details and History for CAD Employment Change m/m
If you want me to email you 1 day before this report is released, and explain to you in details on how to trade it, then please sign up for my free trading signals by going to this link:
Forex Daily Trading Signals - Forex Peace Army Forum
In the signal, I tell you exactly how many pips the currency will most likely move, depending on the difference between expected and actual numbers.
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