5 Dec 2014
USD/CAD toying with 1.1400
FXStreet (Edinburgh) - The greenback is inching higher on Friday against its Canadian counterpart, pushing USD/CAD to the boundaries of 1.1400 the figure.
USD/CAD eyes on US, CAD dockets
The pair keeps extending its bounce off weekly troughs around 1.1310/00 on Tuesday, albeit in a quite choppy way. The renewed strength around the US dollar is responsible for the current recovery in the pair, at least ahead of the critical releases of both the US and Canadian reports on the respective labour markets. Consensus expects US Payrolls to come in at 232K in November, while the Net Change in Employment in Canada points to a gain of 5.0K during the same period; the jobless rate in the US economy would remain at 5.8%, whereas it is expected to tick higher to 6.6% from 6.5% in Canada.
USD/CAD levels to watch
At the moment the pair is up 0.31% at 1.1411 with the next resistance at 1.1418 (high Dec.4) ahead of 1.1425 (high Dec.2) and finally 1.1459 (high Dec.1). On the downside, a break below 1.1341 (low Dec.4) would target 1.1319 (low Dec.2) and then 1.1316 (Kijun Sen).
USD/CAD eyes on US, CAD dockets
The pair keeps extending its bounce off weekly troughs around 1.1310/00 on Tuesday, albeit in a quite choppy way. The renewed strength around the US dollar is responsible for the current recovery in the pair, at least ahead of the critical releases of both the US and Canadian reports on the respective labour markets. Consensus expects US Payrolls to come in at 232K in November, while the Net Change in Employment in Canada points to a gain of 5.0K during the same period; the jobless rate in the US economy would remain at 5.8%, whereas it is expected to tick higher to 6.6% from 6.5% in Canada.
USD/CAD levels to watch
At the moment the pair is up 0.31% at 1.1411 with the next resistance at 1.1418 (high Dec.4) ahead of 1.1425 (high Dec.2) and finally 1.1459 (high Dec.1). On the downside, a break below 1.1341 (low Dec.4) would target 1.1319 (low Dec.2) and then 1.1316 (Kijun Sen).