US NFP on Friday prints big upswing to expectations but steep revisions.
Canada also mixed, adding more jobs than expected but softer wages.
Next week: US CPI inflation, strictly low-tier Canadian data.
The Canadian Dollar (CAD) roiled against the US Dollar (USD) on Friday after US Nonfarm Payrolls (NFP) figures came in mixed, and Canadian employment figures were broadly overshadowed by US data. The CAD is broadly softer on the day, shedding weight against all of its major currency peers.
Canada added more jobs than expected in February, but wage growth slowed slightly while the Unemployment Rate ticked a bit higher. On the US side, a big beat on NFP forecasts was overshadowed by a massive downside revision to January’s jobs figure, leaving market sentiment hamstrung. Next week’s economic calendar is notably light on Canadian releases, and markets will be getting the next update on US inflation when February’s Consumer Price Index (CPI) prints next Tuesday.
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