Free Trial

Surprisingly Limited Reaction To Labour Report

CANADA
  • GoCs sell-off 2-3bps across the curve on the labour report, closing the day’s gap to Tsys having been outperforming Tsys by 1-2bps across 2-10Y tenors beforehand.
  • USDCAD falls 10-15 pips but only unwinds half of the earlier day’s increase.
  • It looks a surprisingly small reaction considering the strength of full-time jobs, the unemployment rate also surprising lower (5.76% vs cons 5.8) and wage growth a tenth higher than consensus for still at the high end of the recent range.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.