Canada: ADP Employment Change arrives at -79.5K in October

• Employment in Canada continued to decline in October.
• USD/CAD clings to modest daily gains above 1.3100.

Employment in Canada decreased by 79,500 jobs from September to October, the ADP Research Institue revealed in its monthly report on Thursday.

Commenting on the report, “the labour market posted a decline in October,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Trade, transportation and utilities; construction; and healthcare experienced the biggest job losses."

Market reaction

The USD/CAD pair edged higher after this report and was last seen gaining 0.25% on the day at 1.3112.