5 Dec 2014
USD/CAD in fresh 2014 highs
FXStreet (Edinburgh) - The US dollar is now accelerating its appreciation vs. the CAD, pushing USD/CAD to print fresh multi-year tops.
USD/CAD lifted by NFP
Spot is intensifying its upside momentum following the upbeat results from the US Payrolls during November, coming in at 321K vs. 232K forecasted; the unemployment rate remained at 5.8%, broadly in line with market consensus. Data releases from the Canadian docket showed the Net Change in Employment decreased by 10.7K vs. 5.0K previously estimated and the jobless rate at 6.6% from October’s 6.5%.
USD/CAD levels to watch
At the moment the pair is up 0.40% at 1.1424 with the next resistance at 1.1459 (high Dec.1) ahead of 1.1466 (2014 high Nov.5) and finally 1.1500 (psychological level). 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 lifted by NFP
Spot is intensifying its upside momentum following the upbeat results from the US Payrolls during November, coming in at 321K vs. 232K forecasted; the unemployment rate remained at 5.8%, broadly in line with market consensus. Data releases from the Canadian docket showed the Net Change in Employment decreased by 10.7K vs. 5.0K previously estimated and the jobless rate at 6.6% from October’s 6.5%.
USD/CAD levels to watch
At the moment the pair is up 0.40% at 1.1424 with the next resistance at 1.1459 (high Dec.1) ahead of 1.1466 (2014 high Nov.5) and finally 1.1500 (psychological level). On the downside, a break below 1.1341 (low Dec.4) would target 1.1319 (low Dec.2) and then 1.1316 (Kijun Sen).