Canada August employment
  • Prior was -30.6K
  • Unemployment rate +5.4% vs +5.0% expected (prior 4.9%)
  • Full time -77.2K vs -13.1K prior
  • Part time +37.5K vs -17.5K prior
  • Participation rate 64.8% vs 64.7% prior
  • Avg hourly wages 5.6% y/y vs 5.4% prior

The Bank of Canada might want to start re-thinking that uber-hawkish stance but this is the worst-possible scenario with wages also ticking up. That's now two negative reports in a row.

USD/CAD has jumped to 1.3038 from 1.3000 before the data.