Jobs data for September 2019:
- Prior was +81.1K
- Unemployment rate 5.5% vs 5.7% expected
- Hourly wages for permanent employees +4.3% vs +3.8% expected (prior +3.8%)
- Full time jobs +70.0K
- Part time jobs -16.3K
This is a sensational report. The headline is sizzling but full time jobs are even better. Unemployment fell and wages are surging. There was a 9% chance of a Bank of Canada cut this month; that should go to zero and the 22% chance of a cut before year end will go there as well provided this US-China deal gets done.
The bottom has fallen out of USD/CAD on the heels of this report; it's down to 1.3215 from 1.3290 beforehand.
