USDCAD Slips After Canada Adds 18,200 Jobs as Unemployment Falls to 6.5%
Updated
Updated · TradingView · Jul 10
USDCAD Slips After Canada Adds 18,200 Jobs as Unemployment Falls to 6.5%
1 articles · Updated · TradingView · Jul 10
Summary
Canada added 18,200 jobs in June against forecasts for 10,000, pushing USDCAD lower as the loonie strengthened modestly after the release.
The report also showed unemployment unexpectedly easing to 6.5% from 6.6%, hourly wage growth accelerating to 3.7% from 3.2%, and private-sector hiring rising by 32,000.
Manufacturing remained the weak spot, shedding 17,000 jobs and leaving the sector down 61,000 from its January 2025 peak amid tariff-related uncertainty.
USDCAD still held above a key 1.41297-1.41488 support zone, with buyers reappearing near 1.41420; a break below 1.41297 would deepen the bearish case.
The stronger labor data reinforces expectations of a resilient economy and keeps markets pricing roughly a 50% chance of a Bank of Canada rate hike by December.