US Dollar/Canadian Dollar bounces 77 pips from 6 years low .
A flat end to the trading week, USD/CAD recovered back to 1.2083 after dipping down to 1.2005 in a week that started at 1.208. (Start trading US Dollar/Canadian Dollar at FXTM today).
This limbo state for US Dollar/Canadian Dollar is reflected by market data published as United States Crude Oil Inventories published yesterday at 3:00 PM came out at -5.08 million, falling short of the -2.44 million projections and continuing its decline from the previous -1.66 million figure. Data for United States ISM Non-Manufacturing PMI (May) released yesterday at 2:00 PM comes out at 64, beating projections of 63 and showing improvement over the preceding figure of 62.7. Data for United States ADP Nonfarm Employment Change (May) released yesterday at 12:15 PM comes out at 978,000, beating projections of 650,000 and showing improvement over the preceding figure of 654,000.
At the same time, mixed performances are seen elsewhere as EUR/NZD climbs to 1.701, a new 4 months high. New 4 months high for EUR/AUD at 1.5851. At 1.3185, USD/SGD is down to its lowest value in 3 months. Dollar/Yen rallies beyond 110.33 for the first time in 2 months. Aussie/Dollar drops to 0.7642, as it hits a 6 weeks low.