USD/CAD slides toward 1.3700 as Loonie soars on upbeat Canadian jobs report


  • The US economy adds 336K jobs in September, surpassing expectations of 170K.
  • Canadian employment rose by 64K, also surpassing expectations.
  • USD/CAD remains near the 1.3720 area as the Loonie outperforms.

The USD/CAD rose to 1.3745 after the release of US and Canadian labor market data and then reversed, pulling back toward the 1.3700 area. The positive impact of the US figures was offset by the Canadian report.

Upbeat jobs reports

The Unemployment Rate in Canada held steady at 5.5% in September, better than the market consensus of a modest increase to 5.6%. Employment rose by 63,800, above the 20,000 expected. 

In the US, Nonfarm payrolls jumped by 336K, largely above the 170K of market consensus. August numbers were revised higher from 187K to 227K. The Unemployment rate remained steady at 3.8%. 

The numbers boosted both the US Dollar and the Canadian Dollar, resulting in the USD/CAD remaining in a familiar range around 1.3720. The Loonie is outperforming while the US Dollar Index is up by 0.45%, approaching the 107.00 level.

USD/CAD

Overview
Today last price 1.3714
Today Daily Change 0.0009
Today Daily Change % 0.07
Today daily open 1.3705
 
Trends
Daily SMA20 1.3554
Daily SMA50 1.3514
Daily SMA100 1.3412
Daily SMA200 1.3461
 
Levels
Previous Daily High 1.3786
Previous Daily Low 1.3704
Previous Weekly High 1.3585
Previous Weekly Low 1.3417
Previous Monthly High 1.3694
Previous Monthly Low 1.3379
Daily Fibonacci 38.2% 1.3735
Daily Fibonacci 61.8% 1.3754
Daily Pivot Point S1 1.3677
Daily Pivot Point S2 1.3649
Daily Pivot Point S3 1.3595
Daily Pivot Point R1 1.3759
Daily Pivot Point R2 1.3813
Daily Pivot Point R3 1.3841

 

 

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