Canada: Employment data losing momentum - TDS

Analysts at TD Securities note that the Canadian employment rose by 11k in October, in between TD's forecast (5k) and the market consensus (15k).

Key Quotes

“Details were largely downbeat; although full-time employment rose by 34k, wages softened and the participation rate fell to a new post-crisis low.”

“FX: The dual employment reports helped to offset each other for USDCAD, but the Canadian trade data should probably justify the push higher.”