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8 May 2015
USD/CAD in fresh lows post-Payrolls
FXStreet (Edinburgh) - The US dollar is now rapidly depreciating vs. its Canadian counterpart on Friday, relegating USD/CAD to test the lower bound of the daily range.
USD/CAD softer on Payrolls
The pair’s decline is gathering steam now following the les auspicious results from the US labour market during April, with Non-farm Payrolls coming in at 223K vs. 225K anticipated and the jobless rate at 5.4%.
On the Canadian side, the Net Change in Employment decreased by 19.7K vs. a forecasted drop of 5K and the unemployment rate stayed put at 6.8%.
USD/CAD key levels
At the moment the pair is down 25% at 1.2096 a breach of 1.2033 (low May 7) would open the door to 1.1940 (low May 6) and finally 1.1934 (low Jan.19). On the other direction, the initial up barrier lies at 1.2164 (high May 7) ahead of 1.2180 (high May 4) and then 1.2205 (high Apr.27).
USD/CAD softer on Payrolls
The pair’s decline is gathering steam now following the les auspicious results from the US labour market during April, with Non-farm Payrolls coming in at 223K vs. 225K anticipated and the jobless rate at 5.4%.
On the Canadian side, the Net Change in Employment decreased by 19.7K vs. a forecasted drop of 5K and the unemployment rate stayed put at 6.8%.
USD/CAD key levels
At the moment the pair is down 25% at 1.2096 a breach of 1.2033 (low May 7) would open the door to 1.1940 (low May 6) and finally 1.1934 (low Jan.19). On the other direction, the initial up barrier lies at 1.2164 (high May 7) ahead of 1.2180 (high May 4) and then 1.2205 (high Apr.27).