7 May 2015
USD/CAD consolidates around 1.2150
FXStreet (Córdoba) - USD/CAD pushed higher during the American session as the loonie weakened in tandem with oil prices ahead of employment data on Friday from both Canada and the US.
USD/CAD regained the 1.2100 mark and rallied to a high of 1.2157 before finding resistance and settling in a slim range just below. At time of writing, the pair is trading at 1.2145, recording a 0.83% gain on the day.
Tomorrow, payrolls data will be release in both countries. In the US, a 224K job gain is expected after creating only 126K in March. Meanwhile in Canada, consensus calls for a 5K loss following a 28.7K rise the prior month.
USD/CAD technical perspective
“USDCAD rejects sub-1.20 levels again; strong rebound will accelerate above 1.22 towards 1.2450”, said the TD Securities team.
USD/CAD regained the 1.2100 mark and rallied to a high of 1.2157 before finding resistance and settling in a slim range just below. At time of writing, the pair is trading at 1.2145, recording a 0.83% gain on the day.
Tomorrow, payrolls data will be release in both countries. In the US, a 224K job gain is expected after creating only 126K in March. Meanwhile in Canada, consensus calls for a 5K loss following a 28.7K rise the prior month.
USD/CAD technical perspective
“USDCAD rejects sub-1.20 levels again; strong rebound will accelerate above 1.22 towards 1.2450”, said the TD Securities team.