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Mar 10 - 01:55 PM

USD/CAD - Slides With UST Yields As US Jobs Data Tempers Hawkish Fed Vibe

By Paul Spirgel  —  Mar 10 - 11:35 AM
  • USD/CAD -0.3% at 1.3785 into Europe close, Friday range 1.3861-1.3765

  • CAD a tad firm after U.S. wages, unemp rate hint at less hawkish policy path

  • UST yields significantly lower on hawkish Fed hike path rethink

  • Canada jobs data sees wages rise, emp abv f/c, unemp rate steady at 5%

  • US-CA rates converging IRPR on Eikon shows Fed +50bp for Mar 22 down to 40%

  • Res 1.3853 upper 21d Bolli, 1.3861 Fri pre-NFP 2023 high, 1.3898 Oct 14 high

  • Supt 1.3765 Friday low, 1.3745 100-HMA, 1.3679 rising 10-DMA

  • 10-DM has trailed price since mid-Fed, cls below shifts momentum to bears

Source:
Refinitiv IFR Research/Market Commentary

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