A slew of Canadian economic data came out 8:15AM EDT and 8:30AM during the 6/8 Friday session.

Housing Starts for May came in 211K vs. forecast of 226K and April reading of 244K (revised from 245K)
source: Canada Mortgage and Housing Corporation (CMHC)

Employment change for May came in 7.7K vs. 10.0K forecast, and April reading of 58.2K
Employment has been mixed few months, but in general total employment trend has been positive:
Meantime, unemployment rate was 7.3% as expected and the same as April's reading. This reading has been sliding.

Source: Statistics Canada (statcan)

Trade Balance for April came in with a -0.4B reading vs. forecast of 0.2B, and March reading of 0.2B (revised from 0.4B)
Exports fell as a result of declin in prices, as import rose.

Source: Statistics Canada

Join the Market Intelligence Briefings to get fundamental analysis technical setups, trade plan assessments for the forex market.

Fan Yang CMT is the Chief Technical Strategist, trader, educator and a of the main contributors to FXTimes - provider of Forex News, Analysis, Education, Videos, Charts, and other trading resources.

Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.