Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.27018 with take profit at 1.27136.
Bearish Preference:
Sell position is envisaged if price trades below 1.26753 with take profit at 1.26635.
Fundamentals:
2:30pm CAD Employment Change
CAD Unemployment Rate
Comment: The dollar was nearly unchanged versus the loonie, dropping sharply against most major currencies. The 10-year yield rose but higher Canadian yields offset the increase. All eyes will be on the U.S. unemployment report scheduled for Friday. The ADP private payroll numbers reflected the first decline in job gains since the initial stages of the pandemic.
Analysis: SCRUM Team