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Sep 01 - 11:55 AM

USD/CAD - Firm Amid Upbeat US Employment Metrics Pre-Payrolls Friday

By Paul Spirgel  —  Sep 01 - 11:05 AM
  • USD/CAD +0.45% to 1.3188, hovers near session high 1.3208 into Europe close

  • Pair rallied after lower US layoff data, falling jobless claims nL1N30813F

  • Global recession fears weigh on commods oil -2% and copper -2.6% sink CAD

  • $CAD resistance 1.3208 Thursday high, 1.3224 Jul 14 high

  • Support at 1.3132 Thursday low, 1.3065 Wednesday low, 1.3035 10-DMA

  • Bulls in control while above 1.2968 50% Fib of 1.2728-1.3208

  • BoC and Fed on similar rate paths tempers CAD slide

Source:
Refinitiv IFR Research/Market Commentary

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