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2 Aug 2013
USD/CAD session low 1.0338
FXstreet.com (Barcelona) - USD/CAD is lost ground from close to 1.0404 to print a low of 1.0338 on disappointing US job numbers.
USD/CAD had been performing gains of over 150 pips since the FOMC, and was climbing higher in a dollar positive environment, where the market had been expecting a good number based on previous bullish US data releases. The pair now trades around 1.0370 as the market digests all of the numbers across the US opening hours. Non Farm Payrolls fell to just 162k jobs last month, and revisions were made lower by 26k jobs that were knocked off from the previous month. The number came in below expectations of 184k and previous 194k.
USD/CAD remains in positive territory
Stability above 1.0330 allows for further upside within the ascending channel. Eyes are for 1.0425 for an upside continuation although markets are currently offering the pair subsequent of recent data releases which now eye to the downside and support levels 1.0330 and 1.0244.
USD/CAD had been performing gains of over 150 pips since the FOMC, and was climbing higher in a dollar positive environment, where the market had been expecting a good number based on previous bullish US data releases. The pair now trades around 1.0370 as the market digests all of the numbers across the US opening hours. Non Farm Payrolls fell to just 162k jobs last month, and revisions were made lower by 26k jobs that were knocked off from the previous month. The number came in below expectations of 184k and previous 194k.
USD/CAD remains in positive territory
Stability above 1.0330 allows for further upside within the ascending channel. Eyes are for 1.0425 for an upside continuation although markets are currently offering the pair subsequent of recent data releases which now eye to the downside and support levels 1.0330 and 1.0244.