Canadian employment will be released alongside non-farm payrolls and is expected to rise 10K with a steady 7.3% unemployment rate. The key for Canadian jobs is often the breakdown in full-time/part-time jobs.
USD/CAD was flirting with the 2012 low at 0.9800 after the strong US data yesterday. A break points to 0.9400 or even the record low at 0.9100.
As a rule of thumb, strong US data will hurt USD/CAD but there may be an exception this week because a +200K jobs figure would diminish the chance of QE3 next week.
Although, a 34% drop in Toronto condo sales in August threatens to overshadow both releases.
