The Canadian Dollar (CAD) started doing well against the Japanese Yen (JPY) since the last week of August 2019. The pair is being traded around 82.52 with an anticipated bullish trend after printing a lower high during the last downside move. It is therefore quite likely that the pair will continue moving upward amid participation rate release.
The participation rate is the percentage of the total number of people aged 15 years and over who are in the labor force (either employed or seeking a job). Statistics Canada’s data are monthly and deseasonalized; it reduces the effect of seasonal variations and allows for year-round analysis of information. As a rule, the positive monetary development foresees bullish developments for the CAD.
It is to be noted that the participation rate is considered a significant indicator of the country’s business condition, hence suggests possible inflation of deflation quite remarkably.
Similarly, the International Merchandise Trade in Canada has also outclassed the economists’ consensus by 02 points by ending on $-0.98 B in October, as compared to $ -1.24 B, the month before.
Trading CADJPY over a short period of time can be a good idea. To traders hoping to swap the pair for a long-term position, however, the chances are very high.