Dollar spikes higher after stellar 313k NFP growth in Feb. But traders quickly realize that wage growth disappoints. Dollar then reverses the gains. On the other hand, strong buying is seen in CAD as unemployment rate unexpectedly fell.
US job data:-
- NFP Feb: 313k vs exp 205k vs prior 239k (revised up from 200k)
- Unemployment rate Feb: 4.1% vs exp 4.0% vs prior 4.1%
- Average hourly earnings Feb: 0.1% mom vs exp 0.2% mom vs prior 0.3% mom
Canada job data:-
- Employment change: 15.4k vs exp 21.0k vs prior -88.0k
- Unemployment rate Feb: 5.9% vs exp 5.9% vs prior 5.9%
