Market stalemate leaves US Dollar-Canadian Dollar hovering around 1.3823 .
A good end to the trading week, USD/CAD is up to 1.3823, after closing yesterday at zero. Overall, a 0% move or 13,823 pips this week. (Trade US Dollar-Canadian Dollar with FXTM now).
Uptick comes while some more positive signs for US Dollar-Canadian Dollar are out as highly important Employment Change data from Canada beat analyst expectations of 10,000 with a reading of 21,800. Unemployment Rate in United States fell short of market expectations (3.4) with a reading of 3.6, continuing the decline from the previous figure of 3.4.
Nevertheless, data for United States Non Farm Payrolls released today at 13:30 UTC is better than expected with 311,000, but worse than previous figure of 504,000.
At the same time, Canada Interest Rate released Wednesday with a figure of 4.5, while the previous figure was 4.5. Canada Ivey PMI (Feb) came out at 51.6, while a consensus of analysts was expecting 55.9.
The market is looking forward to the release of new data: Canada Wholesale Sales (MoM) (Jan) scheduled to come out Thursday. Canada Housing Starts (Feb) will be released Wednesday. Canada Foreign Securities Purchases (Jan) is scheduled for Friday.