Canada's employment report for August

·         The unemployment rate unchanged at 7.0% in August, from the previous month

·         The net employment came at -11.0k in July, a huge drop from +41.7k in the previous month

·         The figure was worse than the forecast of +10.0k

·         USD/CAD dropped approximately 50pips at the release due to the weak NFP figure, but recovered and gained even more due to Canada’s poor employment change