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USD/CAD shoots to highs post-Payrolls

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback is now appreciating further vs. its Canadian neighbour, pushing USD/CAD to the upper bound of the daily range.

    USD/CAD stronger on NFP results

    The pair has reverted its initial negative mood following the positive results from the US Payrolls during November, coming in at 211K vs. 200K initially anticipated; the jobless has remained at 5.0%, matching expectations.

    On the Canadian side, the Net Change in Employment has decreased by 35.7K during last month, missing expectations at 0.7K and lower than October’s 44.4K gain. The unemployment rate has ticked higher to 7.1%

    USD/CAD levels to consider

    As of writing, the pair is advancing 0.19% at 1.3363 with the initial hurdle at 1.3437 (high Nov.23) followed by 1.3458 (2015 high Sep.29) and finally 1.3500 (psychological level). On the downside, a drop below 1.3217 (38.2% Fibo of 1.3459-1.2827) would expose 1.3206 (55-day sma) and then 1.3177 (100-day sma).
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