Today the US Labor Department is due to release a Non-Farm Employment Change for March. The data of crucial importance will detemine the direction of USD/CAD in the coming days. Recently USD has been dominated by CAD which led to certain volatility and indecisiveness in the pair.
The US employment in the public and private sectors is expected to bounce in March following the lowest level in 17 months in February. Indeed, certain sectors like construction expanded significantly. The consensus suggests that the US economy added about 171,000 jobs in March. This is notable increase after minor employment growth of 20,000 jobs in February. Another important criterion for investors is average hourly earnings which are expected to edge down to 0.3% from the previous value of 0.4% while Unemployment Rate could remain flat at 3.8%.
