Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.27 after the release of the strong U.S. jobs report and the weak Canadian jobs report.
The Canadian employment data released last Friday indicated a higher-than-expected loss in jobs during January due to stricter implementation of COVID measures amid the spread of the Omicron variant.
Also, the Canadian Ivey PMI data (Actual: 50.7, Forecast: 55.1, Previous: 45.0) released last Friday indicated a recovery in business activities into the expansionary level in January.
USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200.
Look for short-term buying opportunities of USD/CAD.
The Canadian employment data released last Friday indicated a higher-than-expected loss in jobs during January due to stricter implementation of COVID measures amid the spread of the Omicron variant.
- Employment Change (Actual: -200.1K, Forecast: -121.5K, Previous: 54.7K)
- Unemployment Rate (Actual: 6.5%, Forecast: 6.3%, Previous: 5.9%)
Also, the Canadian Ivey PMI data (Actual: 50.7, Forecast: 55.1, Previous: 45.0) released last Friday indicated a recovery in business activities into the expansionary level in January.
USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200.
Look for short-term buying opportunities of USD/CAD.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.