Canada Loses 28,900 Jobs in April

Canada’s job market continued its volatile trend in April, shedding about 29,000 positions when most analysts had expected a moderate gain.

The unemployment rate remained at 6.9% last month, Statistics Canada said Friday.

The Canadian dollar shed a cent in value after the data was released. The Canadian dollar was at C$1.0886 to the greenback, or 91.86 U.S. cents, weaker than Thursday’s close of C$1.0823, or 92.40 U.S. cents. The currency hit a low of C$1.0902 immediately after the release.

via Financial Post

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza