Canada lost around 2 million jobs in April – Bloomberg

Citing a person familiar with the matter, Bloomberg on Friday reported that Canada has lost around 2 million jobs in April. The market expectation for the official data, Net Change in Employment, is -4 million. 

Market reaction

With the initial market reaction, the USD/CAD pair dropped to 1.3935 but quickly erased its gains as investors seem reluctant to take a position ahead of the official release. As of writing, the pair was down 0.15% on a daily basis at 1.3950.