Daily digest market movers: Lazy day for CAD traders
- Canadian Dollar continues to see slim gains against the US Dollar, but momentum remains thin.
- US Initial Jobless Claims eased to 233K for the week ended August 2, below the forecast 240K and slipping back from the previous week’s 250K.
- Easing US unemployment figures are helping to ease risk appetite back into the picture.
- Friday’s Canadian Net Change in Employment for the YoY period in July is forecast to recover to 22.5K net new job additions, compared to the previous period’s -1.4K contraction.
- Despite the forecast upswing in new jobs, the Canadian Unemployment Rate is expected to tick upwards to 6.5% in July from the previous 6.4%.
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