The Canadian dollar came under further pressure on Thursday, but truly market-moving data won’t be released for the currency until Friday. Tomorrow at 7:00 ET the Canadian net employment change may show a decline of 15,000 during July following a drop of 7,400 in June, while the unemployment rate is anticipated to have risen to match the January 1998 high of 8.8 percent from 8.6 percent. Since the employment change tends to be a very volatile release, this should have the greater impact on the Canadian dollar, with a sharper than expected drop likely to weigh on the currency and an unexpected positive result likely to push it higher.
