CA Net Change in Employment
Features of the publication
How to trade CA Net Change in Employment
If the data is above the forecast, then USDCAD falls and vice versa.
As a rule, Canada's Employment Change is published in the shadows of the American labor market report, which does not allow trading it, since market priorities are directed to US Non-Farm Payrolls, and even the use of cross-currencies does not guarantee the painless trading of the Canadian report. The influence of the American labor market is so great that it is capable of interrupting the movements of most cross-pairs (for example, look at EURJPY at the time of publishing NFP). But when the CA Employment Change is published separately, the market is ready to accept it with joy, and even small deviations from the fact of the news from the forecast lead to good movements.
For trading CA Employment Change, a conflict prevention system parallel with an unemployment report is used: Unemployment Rate, which reduces the probability of a market's spiking. But the probability of spiking remains on the part of the overall structure of the indicator as well as the data of the revised past issue.
This report influences the Monetary Policy of the Bank of Canada and particularly influences the market when the Bank is at the crossroads of changing its monetary direction. At such moments, trading can be particularly enjoyable since the occurrence of large movements increases.
The risk factor is the slippage of the entry at the time of publication. Be careful, for CAD, it can be considered a disadvantage requiring your attention.