4 Sep 2015
USD/CAD keeps the weekly range after jobs data and despite risk aversion
FXStreet (Córdoba) - USD/CAD is rising on Friday at a modest pace and still remains within the weekly trading range. During the US session printed a fresh daily high at 1.3289.
Currently the pair trades at 1.3275, up 0.73% for the day.
To the upside the pair continues to be limited below 1.3300 and while to the downside the area above 1.3100 continues to offer support. Economic data form Canada and the US, risk aversion and a decline in crude oil failed to push the pair out of the mentioned price range.
In Wall Street, the Dow Jones is falling 1.55% while Nasdaq drops 0.92%. European markets lost on average 2.50%. Crude oil is falling modestly, less than 1%.
USD/CAD between two employment reports and a stronger US dollar
Canada and the US released their official employment reports today; both showed a mix picture. In the US, NFP rose 173K below expectation, but the other details were positive. Same situation applies to the Canadian report where the unemployment rate rose from 6.8% to 7.0% (that reflected an increase in the participation rate), but jobs increase 12K surprising analysts that were expecting a decline of 5K.
Despite falling against the US dollar, the loonie gained momentum in the currency market and is outperforming among commodity currencies.
Currently the pair trades at 1.3275, up 0.73% for the day.
To the upside the pair continues to be limited below 1.3300 and while to the downside the area above 1.3100 continues to offer support. Economic data form Canada and the US, risk aversion and a decline in crude oil failed to push the pair out of the mentioned price range.
In Wall Street, the Dow Jones is falling 1.55% while Nasdaq drops 0.92%. European markets lost on average 2.50%. Crude oil is falling modestly, less than 1%.
USD/CAD between two employment reports and a stronger US dollar
Canada and the US released their official employment reports today; both showed a mix picture. In the US, NFP rose 173K below expectation, but the other details were positive. Same situation applies to the Canadian report where the unemployment rate rose from 6.8% to 7.0% (that reflected an increase in the participation rate), but jobs increase 12K surprising analysts that were expecting a decline of 5K.
Despite falling against the US dollar, the loonie gained momentum in the currency market and is outperforming among commodity currencies.