|Performance after Thursday
Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Challenger Job Cuts in November rose to 45.51K compared to previous figure 36.836K in October
🇨🇦 Canada Bank of Canada Policy Interest Rate unchanged at 5% compared to previous rate 5% Source: Bank of Canada
🇨🇦 Canada Ivey Purchasing Managers Index seasonal adjustment in November exceed forecast and rose to 54.7 compared to previous figure 53.4 in October
🇨🇦 Canada Ivey Purchasing Managers Index in November rose to 53.2 compared to previous figure 51.9 in October
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q3 exceed forecast and rose to 5.2% compared to previous figure 4.7% in Q2 Source: Bureau of Labor Statistics
Latest from X (Twitter)
What can we expect from USDCAD today?
USDCAD on Thursday rose 0.04% to 1.35980. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.36185 with break above could target R2 at 1.36391 or figure level area. While towards the downside, we are looking at daily low of 1.35790 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.36193 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out: