CAD Outlook: RBC Capital Markets

Qutoes from RBC Capital Markets

CAD:

• We are looking for an 18K net gain in employment for Feb (following +35.4K in Jan).  We expect the unemployment rate unchanged at 6.6%. 
  
  
• Within the breakdown of the headline employment print, we will be watching for three potential wildcards: 1) any pullback in natural resource sector employment following an extended bout of oil price weakness; 2) any headcount reductions in retail trade given some high-profile closures in this sector of late; and 3) some weather-related softness, which would likely appear in sectors such as construction.