Canadian Dollar: Labour data seen softening – TD Securities
The post Canadian Dollar: Labour data seen softening – TD Securities appeared on BitcoinEthereumNews.com. TD Macro Research expects the Canadian labour market to soften in June, with employment unchanged versus market expectations for a 10k gain after May’s 87.8k surge. They see the unemployment rate steady at 6.6% and wage growth for permanent workers rising modestly to 3.6% year-on-year, only partly reversing May’s sharp deceleration. Jobs surge seen mean-reverting “We look for the Canadian labour market to return to a softer footing in June with employment forecast to remain unchanged (market: +10k) after the creation of 87.8k jobs last month as the unemployment rate holds at 6.6% with a stable participation rate.” “Monthly business surveys have been mixed over June, with a pullback in small business hiring intentions contrasting with the more upbeat performance in the S&P PMIs.” “However, mean reversion will provide the more powerful driver for the softer print with last month’s pe