US data

The report issued by the United States Bureau of Labor Statistics just moments ago showed that only 199 thousand jobs were added in December, compared to the addition of 210 thousand jobs in November, much less than market expectations, which indicated the creation of more than 400 thousand jobs.

On the other hand, unemployment rates declined by about 0.3% to 3.9%, while expectations had indicated a decline to 4.1% despite the increase in labor force participation rates to 61.9% compared to 61.8% in November. On the other hand, the hourly wages rose to 0.6% from 0.4% at a monthly pace and to 4.7% at an annual pace, less than expectations that indicated a rise to 4.9%.

In the details of the sectors, the commodity production sector added about 54 thousand jobs, while the construction sector added 22 thousand jobs, and the manufacturing sector also added 26 thousand jobs, while the government sector lost about 12 thousand jobs.

The US dollar recorded declines after the data was announced to test 96.02 levels before rebounding and is now trading at 96.15 levels, less than an hour before the opening of the US markets.

Canadian data

On the other hand, the Canadian economy added about 55 thousand jobs in December, 0.3% higher than the November reading and better than expectations that showed the addition of 24 thousand jobs only, and unemployment rates fell to 5.9% from 6% (expectations to remain stable at 6%).

The Canadian dollar rose after the data, also benefiting from the US dollar’s decline and tested 1.2679 levels, rising more than 40 pips.