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USD/CAD flirting with 1.1200 pre-data

FXStreet (Edinburgh) - The greenback is firmer across the board at the end of the week, lifting USD/CAD to as high as 1.1220 although losing some impetus afterwards.

USD/CAD focus on jobs data

Spot trades on an upbeat tone today, with market participants waiting for the key indicators from the Canadian labour market. Consensus points to a gain in the employment figures of 20K during September and the jobless rate staying unchanged at 7%. The US docket appears less relevant with the release of Export/Import Prices ahead of Fed’s Plosser speech and the Monthly Budget Statement.

USD/CAD important levels

At the moment the pair is advancing 0.15% at 1.1202 with the next up barrier at 1.1265 (high Oct.6) ahead of 1.1279 (2014 high Mar.20) and then 1.1300 (psychological level). On the downside, a drop below 1.1104 (21-d MA) would open the door to 1.1082 (low Oct.9) and finally 1.1071 (low Oct.2).

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