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

USD/CAD

Overview
Today last price 1.3187
Today Daily Change -0.0101
Today Daily Change % -0.76
Today daily open 1.3288
 
Trends
Daily SMA20 1.3278
Daily SMA50 1.3267
Daily SMA100 1.3245
Daily SMA200 1.3288
 
Levels
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

 

 

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