TD Securities Sees Canadian Labour Market Softening in June
TD Macro Research forecasts no change in Canadian employment for June, below expectations of a 10k gain, suggesting a softening labor market.
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TD Securities' macro research team expects the Canadian labor market to show signs of weakness in June. They project employment to remain unchanged month-over-month, missing the consensus estimate of a 10,000 increase. This forecast comes after May's strong gain of 87,800 jobs.
The anticipated softening could weigh on the Canadian dollar if realized, as weaker employment data may reduce pressure on the Bank of Canada to maintain a hawkish stance.
Source: FXStreet Forex News