USD/CAD slides to fresh monthly lows near 1.3170

  • Upbeat employment data from Canada provided a boost to the CAD.
  • Crude oil prices continue to push higher on trade optimism.
  • US Dollar Index looks to close the week below 98.50.

The USD/CAD pair extended its losses and fell to its lowest level in a month at 1.3172 as the rising crude oil prices and the upbeat employment data from Canada allowed the Loonie to outperform its rivals. As of writing, the pair was trading 1.3185, erasing 0.82% on a daily basis.

The unemployment rate continues to fall in Canada

The data published by Statistics Canada on Friday revealed that the unemployment rate in Canada fell to 5.5% in September from 5.7% in August and came in better than the market expectation of 5.7%. Furthermore, the total number of employed increased 53,700 and surpassed analysts' estimate of 10,000 by a wide margin.

In the meantime, markets continue to price the expectations of the United States and China reaching a partial trade deal to boost crude oil prices on Friday. At the moment, the barrel of West Texas Intermediate is rising 0.85% on the day at $54.30.

On the other hand, the US Dollar Index is struggling to pull away from daily lows as the upbeat market mood weighs on the demand for the Greenback. The index, which touched its lowest level in three weeks at 98.20, was last down 0.42% on the day at 98.28.

Technical levels to watch for


Today last price 1.3187
Today Daily Change -0.0101
Today Daily Change % -0.76
Today daily open 1.3288
Daily SMA20 1.3278
Daily SMA50 1.3267
Daily SMA100 1.3245
Daily SMA200 1.3288
Previous Daily High 1.3348
Previous Daily Low 1.3268
Previous Weekly High 1.3349
Previous Weekly Low 1.3205
Previous Monthly High 1.3384
Previous Monthly Low 1.3134
Daily Fibonacci 38.2% 1.3299
Daily Fibonacci 61.8% 1.3317
Daily Pivot Point S1 1.3255
Daily Pivot Point S2 1.3222
Daily Pivot Point S3 1.3176
Daily Pivot Point R1 1.3334
Daily Pivot Point R2 1.338
Daily Pivot Point R3 1.3413



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: Bullish case underpinned by weekend news

The EUR/USD pair has rallied Friday to close with gains for a third consecutive week at 1.1169. There was no particular catalyst for EUR gains. ECB scheduled to meet this week, although no fireworks expected this time.


GBP/USD: Uncertainty or relief? Action granted anyway

Hopes that the UK will avoid a hard-Brexit kept the Pound rallying against all of its major rivals by the end of last week, with GBP/USD finishing it a handful of pips below the critical 1.3000 level.


USD/JPY: Corrective slide to continue on sentiment

The USD/JPY pair closed the week at around 108.40, down Friday for a third consecutive day as the American currency remained under selling pressure. USD/JPY at risk of falling further only if it breaks below 108.00.


Gold turns flat above $1,490 as USD remains under pressure

After dropping to a daily low of $1,485, the XAU/USD pair staged a modest rebound during the American trading hours and turned flat on the day near $1,492.

Gold News

China’s downward economic path offers no escape from its trade problems

There were no surprises in China’s GDP figures as the government portrays an economy slipping steadily lower giving little promise of improvement or support for the waning global expansion.

Read more