Canada Employment Change comes in at 75.1K against 7.1K consensus

Canada’s Employment Change for August 7, 2026, significantly exceeded market expectations. The actual figure came in at 75.1K, a substantial increase compared to the consensus forecast of 7.1K. This represents a surprise of 957.7% against the consensus. The previous month’s reading was 18.2K.

Following the release, the Canadian dollar strengthened against several major currencies. USDCAD moved -45 pips 15 minutes after the release. CADJPY declined -39 pips over the same period, while CADCHF fell -11 pips. NZDCAD rose +19 pips, AUDCAD gained +14 pips, EURCAD increased +9.1 pips, and GBPCAD was up +8.3 pips. The -45 pip move in USDCAD 15 minutes after the release is larger than its median 1-hour move of 28 pips. The -39 pip move in CADJPY is also larger than its median 1-hour move of 21 pips. The -11 pip move in CADCHF is smaller than its median 1-hour move of 14 pips.