Canada: Unemployment Rate stays unchanged at 5% in March vs. 5.1% expected

• Unemployment Rate in Canada held steady at 5% in March.
• USD/CAD continues to trade in its daily range below 1.3500.

The data published by Statistics Canada revealed on Thursday that the Unemployment Rate stayed unchanged at 5% in March. This reading came in slightly better than the market expectation of 5.1%.

Further details of the publication revealed that the Net Change in Employment came in at +34.7K in March, surpassing analysts' estimate of 12,000. Finally, the Participation Rate edged lower to 65.5% from 65.7%.

Market reaction

USD/CAD edged slightly higher with the initial reaction to this data and was last seen rising 0.15% on a daily basis at 1.3478.