USD/CAD reverses to upper 1.2700s, probes 1.2800 after strong US jobs data and amid risk-off flows By Frank_Macro USDCAD BOC RiskAppetite
id a distinctly risk-off market tone weighed on the more risk-sensitive Canadian dollar. The pair started the session underneath 1.2700, but at one point had rallied as much as 0.9% to nearly test 1.2800. At current levels in the 1.2760s, USD/CAD trades with gains of about 0.7%on the day, with the pair now trading about 1.5% above multi-week lows printed on Thursday underneath 1.2600.
Equally though, the loonie has somewhat surprisingly failed to keep pace with the likes of other commodity-linked G10 currencies like the kiwi and Aussie as oil prices look to end a historic week on the front foot. Since the end of February, 1.2800 has offered strong resistance which was only really broken one time when Russia surprised global markets with his invasion of Ukraine slightly more than one week ago.
Following a much stronger than anticipated February Canadian Ivey PMI survey release earlier on Friday and a smaller than expected decline in Labour Productivity in Q4, focus turns to official Canadian labour market data scheduled for release next Friday. Another factor that should work in favour of the loonie in the coming months is the more hawkish BoC, which hiked interest
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
US Dollar Price Action Setups: EUR/USD, GBP/USD, AUD/USD, USD/CADEUR/USD just set a fresh 20-month low and the USD continues to see a war bid, even with yields falling aggressively as rate hike bets get re-priced in the face of global conflict.
Lire la suite »
US Commerce Department: Targets Russia's oil refining sector with stringent new US export controlsUS Commerce Department: Targets Russia's oil refining sector with stringent new US export controls By Frank_Macro RussianFederation UnitedStates Oil
Lire la suite »
If Russia Decides to Drop The ISS On Us, SpaceX Will Save UsIf Russia decided to destabilize the International Space Station and drop on our heads, SpaceX would do its best to save us.
Lire la suite »
US officials say Biden administration is sharing intelligence with Ukraine at a 'frenetic' paceThe US has multiple channels open and is sharing intelligence with Ukraine at a 'frenetic' pace, US officials said Thursday, disputing criticism that the Biden administration is not sharing battlefield intelligence fast enough.
Lire la suite »
US Nonfarm Payrolls February Preview: Fed policy runs through KyivThe two-year American labor market recovery will be less important to markets on Friday than a war half-a-world away that could determine the condition ...
Lire la suite »