The Canadian Dollar (CAD) rose for a third consecutive day against the US Dollar on Thursday. Both Canada and the US were absent from the economic calendar, with US markets closed for the Independence Day holiday. The lack of significant economic data from Canada and the US shifted market focus to Friday. In June, Canadian Net Change in Employment is expected to ease to 22.5K from the previous 26.7K, while the Canadian Unemployment Rate is forecasted to tick higher to 6.3% from 6.2%. Additionally, the Annualized Canadian Average Hourly Wages for the year ended in June will be published. US Nonfarm Payrolls (NFP) net job gains are expected to ease to 190K in June, down from the previous 272K, and US Average Hourly Earnings are forecasted to moderate further, ticking down to 0.3% MoM in June from the previous 0.4% [b578dd86].
The Canadian Dollar (CAD) showed mixed gains on Thursday as markets remained quiet. The CAD rose against the US Dollar for a third consecutive day. However, both Canada and the US were absent from the economic calendar, with US markets closed for the Independence Day holiday. Market focus shifted to Friday, with a flat release schedule for Canada and a US holiday. June's Canadian Net Change in Employment is expected to ease to 22.5K from the previous 26.7K, and the Canadian Unemployment Rate is forecasted to tick higher to 6.3% from 6.2%. Annualized Canadian Average Hourly Wages for the year ended in June will also be published. US Nonfarm Payrolls (NFP) net job gains are forecasted to ease to 190K in June, down from the previous 272K, and US Average Hourly Earnings are expected to moderate further, ticking down to 0.3% MoM in June from the previous 0.4% [b578dd86].