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Feb 01 - 01:55 PM

USD/CAD - Bears Cautious Despite Mixed ADP, JOLTS Data, Fed Presser In Focus

By Paul Spirgel  —  Feb 01 - 10:45 AM
  • USD/CAD near flat into Europe cls, +0.05% at 1.3314; Wed range 1.3327-1.3289

  • Pair hit new 2023 low 1.3289 in early Europe trade, holds just abv 1.33

  • Commods soft ahead of Fed exp'd 25bp hike stalls CAD gains

  • Fed rate announcement/presser in focus after soft ADP, JOLTS miss higher

  • $CAD support at 1.3289 Wed low, 1.3272 lwr 21-d Bolli, 200-DMA at 1.3216

  • Resistance 1.3327 Wed high, 1.3361 10-DMA, 1.3471 Jan 31 flash high

Source:
Refinitiv IFR Research/Market Commentary

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