Back
10 Apr 2015
USD/CAD off highs on data
FXStreet (Edinburgh) - The Canadian dollar has pared some losses vs. the greenback following the job report in Canada, with USD/CAD now returning to the 1.2630 area.
USD/CAD upside stalled near 1.2670
The pair saw its upside interrupted after the monthly report on the Canadian labour market surprised markets to the upside, with the Net Change in Employment increasing by 28.7K vs. 0K forecasted and -1K previous; the jobless rate remained intact at 6.8% during March.
Further releases showed US Export prices up 0.1% inter-month in march and Import prices contracting below estimates 0.3% MoM.
USD/CAD levels to watch
At the moment the pair is advancing 0.35% at 1.2622 with the next hurdle at 1.2656 (high Apr.2) followed by 1.2710 (high Apr.1) and finally 1.2784 (high Mar.31). On the other hand, a breakdown of 1.2578 (low Apr.1) would aim for 1.2574 (high Apr.3) and then 1.2559 (low Apr.8).
USD/CAD upside stalled near 1.2670
The pair saw its upside interrupted after the monthly report on the Canadian labour market surprised markets to the upside, with the Net Change in Employment increasing by 28.7K vs. 0K forecasted and -1K previous; the jobless rate remained intact at 6.8% during March.
Further releases showed US Export prices up 0.1% inter-month in march and Import prices contracting below estimates 0.3% MoM.
USD/CAD levels to watch
At the moment the pair is advancing 0.35% at 1.2622 with the next hurdle at 1.2656 (high Apr.2) followed by 1.2710 (high Apr.1) and finally 1.2784 (high Mar.31). On the other hand, a breakdown of 1.2578 (low Apr.1) would aim for 1.2574 (high Apr.3) and then 1.2559 (low Apr.8).