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USD/CAD – Loonie Erases January Losses Ahead of Employment Data

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Canadian dollar rallied versus its American counterpart on Thursday as disappointing data continues to hurt the USD. U.S. unemployment claims recording a rise of 8,000 applications for 285,000 last week when only 2,000 was forecasted. The rise in the number of claims joins both purchasing managers indices (PMI) manufacturing and non-manufacturing, which are leading indicators of economic health, coming in below expectations. The USD tumble despite oil prices falling around 1.6 percent

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