US non farm payrolls come in much weaker than expected, showing 103k growth in March only, versus expectation of 189k. Prior month’s figure was revised up from 313k to 326k. Unemployment rate was unchanged at 4.1% versus expectation of 4.0%. Nonetheless, average hourly earnings rose 0.3% mom, meeting expectation.
Canada employment grew 32.3k in March, way above expectation of 20k. Unemployment rate was unchanged at 5.8%, meeting consensus.
Dollar is trading lower against most major currencies on the head line NFP number. It remains to be seen if the solid wage growth number could give it enough support.
USD/CAD is at the center of attention regarding the batch data in early US session. Apparently, market are responding with a selloff in the pair after the releases.
