CAD Unemployment Rate comes in at 6.4% against 6.4% consensus

Canada’s Unemployment Rate was released today, September 4, 2026, at 12:41 UTC. The actual figure came in at 6.4%, precisely matching the consensus expectation of 6.4%. This figure also remained unchanged from the previous reading of 6.4%, resulting in a 0.0% surprise against consensus.

Following the release, market reactions were observed across various CAD pairs. Fifteen minutes after the data, AUDCAD moved +27 pips, compared to its median 1-hour move of 18 pips. CADCHF saw a -5.3 pip move, which is relatively small compared to its median 1-hour move of 14 pips. CADJPY moved -42 pips, nearing its top-quarter historical move of 43+ pips, while its median 1-hour move is 20 pips. EURCAD registered a +46 pip move, exceeding its median 1-hour move of 26 pips. GBPCAD moved +46 pips, also above its median 1-hour move of 34 pips. NZDCAD moved +4.8 pips, a relatively small move compared to its median 1-hour move of 18 pips. USDCAD experienced a +70 pip move, significantly surpassing its median 1-hour move of 27 pips and its top-quarter historical move of 43+ pips.