4 Sep 2015
USD/CAD tests fresh lows on NFP
FXStreet (Edinburgh) - The US dollar is losing ground vs. its Canadian counterpart on Friday, with USD/CAD receding to fresh daily lows.
USD/CAD weaker on US, CAD data
The pair has found its downside renewed after the US economy has added 173K jobs during last month, below expectations at 220K and lower than July's 245K. In addition, the jobless rate eased to 5.1% from 5.3% in the previous month.
On the Canadian side, the unemployment rate ticked higher to 7.0% while the Net Change in Employment increased by 12K vs. -4.5K initially anticipated. Next on tap will be the PMI gauged by the Ivey Institute, expected at 52.0 during August.
USD/CAD levels to consider
At the moment the pair is up 0.18% at 1.3203 and a breach of 1.3162 (low Sep.4) would open the door to 1.3116 (low Aug.31). On the upside, the initial hurdle aligns at 1.3295 (high Aug.27) ahead of 1.3327 (high Aug.31) and finally 1.3343 (high Aug.26).
USD/CAD weaker on US, CAD data
The pair has found its downside renewed after the US economy has added 173K jobs during last month, below expectations at 220K and lower than July's 245K. In addition, the jobless rate eased to 5.1% from 5.3% in the previous month.
On the Canadian side, the unemployment rate ticked higher to 7.0% while the Net Change in Employment increased by 12K vs. -4.5K initially anticipated. Next on tap will be the PMI gauged by the Ivey Institute, expected at 52.0 during August.
USD/CAD levels to consider
At the moment the pair is up 0.18% at 1.3203 and a breach of 1.3162 (low Sep.4) would open the door to 1.3116 (low Aug.31). On the upside, the initial hurdle aligns at 1.3295 (high Aug.27) ahead of 1.3327 (high Aug.31) and finally 1.3343 (high Aug.26).