Canada: Labor market is expected to have cooled - BBH

Canada reports January employment data and is going to be a key economic release for today’s session, according to analysts at BBH.

Key Quotes

“Labor market has been particularly strong.  It created on average 32.6k full-time positions a month in 2017.   Given the relative size difference, it would be as if the US created 300k+ jobs a month.  The labor market is expected to have cooled last month.  The market looks for something closer to 10k increase in overall employment, down from 78.6k in December.  The US dollar is trading at its best level this year against the Canadian dollar.  The next target is near CAD1.2660.”