USD/CAD holds above the 1.3600 mark ahead of US Jobless Claims data

USD/CAD drifts higher on the firmer US Dollar.
The Bank of Canada (BoC) maintained its key overnight rate unchanged at 5.0%.
ADP private payrolls climbed 103K in November versus 106K prior.
Canadian Building Permits for October and US weekly Jobless Claims will be due later on Thursday.

Lallalit Srijandorn FXStreet

The USD/CAD pair trades on a stronger note during the Asian trading hours on Thursday. The rebound of the pair is bolstered by renewed US Dollar (USD) demand and the decline of oil prices. At press time, USD/CAD is trading at 1.3605, down 0.09% on the day.

On Wednesday, the Bank of Canada (BoC) maintained its key overnight rate unchanged at 5.0% at its December meeting and opened the door for additional rate hikes. The central bank cited a slowing economy and easing in price pressures such as consumer spending as evidence that tighter monetary policy is helping to lower inflation.

Money markets anticipate a rate cut as early as March, with a 25 basis point (bps) reduction by April. However, BoC Governor Tiff Macklem said that the central bank is not even thinking about easing since inflation is higher than the target.

On the other hand, analysts expect the tightening cycle is done and the Fed will hold interest rates until at least July, later than earlier thought. Data released on Wednesday revealed that ADP private payrolls climbed 103K in November versus 106K prior, weaker than the market estimation of 130K.

Looking ahead, market participants will keep an eye on the Canadian Building Permits for October. Also, the US weekly Jobless Claims data will be due, which is expected to gain 222,000. The highlight will be the US employment data on Friday. The Nonfarm Payroll (NFP) is estimated to add 185K jobs in November, and the Unemployment Rate is expected to remain steady at 3.9%. These data could give a clear direction to the USD/CAD pair.

USD/CAD

Overview
Today last price	1.3605
Today Daily Change	0.0013
Today Daily Change %	0.10
Today daily open	1.3592

Trends
Daily SMA20	1.3664
Daily SMA50	1.369
Daily SMA100	1.3575
Daily SMA200	1.3517

Levels
Previous Daily High	1.3596
Previous Daily Low	1.3549
Previous Weekly High	1.3661
Previous Weekly Low	1.3487
Previous Monthly High	1.3899
Previous Monthly Low	1.3541
Daily Fibonacci 38.2%	1.3567
Daily Fibonacci 61.8%	1.3578
Daily Pivot Point S1	1.3562
Daily Pivot Point S2	1.3532
Daily Pivot Point S3	1.3514
Daily Pivot Point R1	1.3609
Daily Pivot Point R2	1.3627
Daily Pivot Point R3	1.3657

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.