USDCAD on Thursday rose 0.65% to 1.33650. What we know.

USDCAD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.65%	86 Pips
Week to-date	0.93%	123.4 Pips
July	0.92%	121.4 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 01:30 PM CAD Net Change in Employment
Fri 01:30 PM CAD Unemployment Rate

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in May below forecast and dropped to 9.8M compared to previous figure 10.103M in April
🇺🇸 In the week ending 01 July, U.S. Initial Unemployment Insurance Claims rose to 248K compared to previous figure 236K (revised from 239K) Department of Labor
🇺🇸 U.S. Challenger Job Cuts in June dropped to 40.709K compared to previous figure 80.089K in May

What can we expect from USDCAD today?

USDCAD on Thursday rose 0.65% to 1.33650. 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 1.34014 with break above could target R2 at 1.34378 or figure level area. While towards the downside, we are looking at daily low of 1.32700 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.33721 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is bullish as the pair continued to trade higher and is up by 0.93% over the past few days.

Key levels to watch out:

You might be interested in:

U.S. International Trade in Goods and Services. Census Bureau
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Canadian international trade in services, May 2023. Statistics Canada
Minutes of the Federal Open Market Committee, June 13-14, 2023. Federal Reserve