After ending yesterday at 1.3421, US Dollar-Canadian Dollar inches up to 1.3421 (down 13,421 pips) .
A good end to the trading week, USD/CAD is up to 1.3421, after closing yesterday at zero. Overall, a 0% move or 13,421 pips this week. (Trade US Dollar-Canadian Dollar with FXTM now).
This move comes while some more positive signs for US Dollar-Canadian Dollar are out as highly important Average Hourly Earnings data from United States beat analyst expectations of 0.4% with a reading of 0.3%. Highly important Unemployment Rate data from United States beat analyst expectations of 3.5 with a reading of 3.7.
On the flip side, GDP in Canada fell short of market expectations (0.2%) with a reading of 0%, continuing the decline from the previous figure of 0.1%. Highly important Non Farm Payrolls data from United States beat analyst expectations of 180,000 with a reading of 339,000. Highly important Crude Oil Inventories data from United States beat analyst expectations of -1.10 million with a reading of 4.49 million.
Also worthy of note, Canada Employment Change projected to decline to 20,000 while previous data was 41,400; data will be released Friday.
Elsewhere, Canada Interest Rate is expected Wednesday. Canada Building Permits figure is projected at -2.9%. It previously stood at 11.3%; data will be released Tuesday.
