FXstreet.com (Barcelona) - The USD/CAD has been trading in an extraordinarily tight 16-pip consolidation (0.9797 intraday minimum, 0.9813 intraday maximum) as of European trading Friday morning, following yesterday’s retreat off the 0.9876 level (October 4 high). With a lack of pricing catalysts, the pair has engaged in sideways trading, unable to definitely move in either direction and is trading near opening levels, up a marginal +0.03%.
Later today investors will be watching a series of key economic indicators out of both the United States and Canada. In the US, the all-important Non-farm payrolls (September) at 12:30 GMT and Unemployment Rate in the month of September cap off a busy week, while moving north to Canada, a string of employment indicators raps up an otherwise eventful week in its respective economy.
After yesterdays recovery in crude prices, the price has settled back in negative territory in these moments, trading at USD $91.38 or -0.36% in these moments.
At the time of writing the cross is navigating the region of 0.9805 – amidst this muted trading, the technical analyst team at Mataf.net points to further resistances at 0.9856, the 0.9905, and finally 0.9933. On the decent, a break below 0.9779 will initiate added supportive means at 0.9751 and 0.9702.
Later today investors will be watching a series of key economic indicators out of both the United States and Canada. In the US, the all-important Non-farm payrolls (September) at 12:30 GMT and Unemployment Rate in the month of September cap off a busy week, while moving north to Canada, a string of employment indicators raps up an otherwise eventful week in its respective economy.
After yesterdays recovery in crude prices, the price has settled back in negative territory in these moments, trading at USD $91.38 or -0.36% in these moments.
At the time of writing the cross is navigating the region of 0.9805 – amidst this muted trading, the technical analyst team at Mataf.net points to further resistances at 0.9856, the 0.9905, and finally 0.9933. On the decent, a break below 0.9779 will initiate added supportive means at 0.9751 and 0.9702.
