USD/CAD Live News

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Dec. 1, 2022

Kicking off the session at 1.3424, US Dollar-Canadian Dollar currency pair peaks at 1.3467

Live - Updated 53 minutes ago.

US Dollar-Canadian Dollar posts light gains on a low-volatility day, ranging between 1.3392 – 1.3467 and is now at 1.3443.

Meanwhile, United States ISM Manufacturing PMI (Nov) released today at 15:00 UTC with a figure of 49, while the previous figure was 50.2. Canada Labor Productivity (QoQ) (Q3) came out at 0.6, while a consensus of analysts was expecting 0.3. United States Core PCE Price Index (MoM) (Oct) came out at 0.2, while a consensus of analysts was expecting 0.3.

Technical analysis shows that although USD/CAD is appreciating today after rising as high as 1.3467, price action is now slowing and consolidating around 11 pips below the 1.3454 resistance level. Technical analysis trend indicators suggest that US Dollar-Canadian Dollar made an initial breakout above its 10 day Simple Moving Average at 1.3416, a potential indicator of a newly emerging bullish phase.

All in all, the technical analysis suggests US Dollar-Canadian Dollar has no clear-cut direction.

Other currencies are also rising as GBP/CAD explodes 1.58% to trade around 1.6438. GBP/USD is up 1.39%.

While US Dollar-Canadian Dollar is up today, these currencies are lagging behind: USD/JPY closed at 135.75 (down 1.69%).

Positive indicators for US Dollar-Canadian Dollar are expected going forward as United States Non Farm Payrolls expected to decline to 200,000 while its preceding data was 261,000, data will be available tomorrow at 13:30 UTC.

Furthermore, the market is looking at tomorrow at 13:30 UTC data for Canada Employment Change will be released, with an expected decline to 5,000 from the preceding figure of 108,300.

Elsewhere, United States Unemployment Rate figure is projected at 3.7. It previously stood at 3.7; data will be released tomorrow at 13:30 UTC.

US Dollar-Canadian Dollar is now trading 18.55% away from its significant low of 1.1321 first tested 20 days ago.

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Week to date

US Dollar-Canadian Dollar is trading around 1.3443 after ending the previous session at zero (up 0%) .

Trading week at a glance - USD/CAD is up to 1.3443, after closing yesterday at zero. Overall, a 0% move or 13,442 pips this week. (Start trading US Dollar-Canadian Dollar at FXTM today).

On the flip side, fresh GDP data released in Canada matched analyst forecasts with a reading of 0.1% -- a backwards step from its previous reading of 0.3%. Data for United States Initial Jobless Claims published today at 13:30 UTC came out at 225,000, beating projections of 235,000 and showing improvement over the preceding figure of 241,000.

Meanwhile, United States ISM Manufacturing PMI (Nov) came out at 49, while a consensus of analysts was expecting 49.8. Canada Labor Productivity (QoQ) (Q3) released today at 13:30 UTC with a figure of 0.6, while the previous figure was 0.1. United States Core PCE Price Index (MoM) (Oct) released today at 13:30 UTC with a figure of 0.2, while the previous figure was 0.5.

Also worthy of note, Canada Employment Change projected to come out at 5,000 — worse than previous data of 108,300; data will be released tomorrow at 13:30 UTC.

Furthermore, the market is looking at Canada Ivey PMI (Nov) is scheduled for Tuesday. Canada Building Permits is expected Monday.