USD/CAD: Supported on diverging jobs data – TD Securities
Source Fxstreet
TD Securities analysts see the Canadian Dollar (CAD) under pressure versus the Dollar, with USD/CAD expected to stay supported around 1.40.
Jobs divergence underpins Dollar strength
"For investors looking to chase USD upside, we see USDCAD more supported at 1.40 on the back of diverging jobs data."
"Across global major currencies, we see room for the USD to rally selectively against CAD and KRW in the near-term. Diverging employment data releases will likely keep USDCAD supported above 1.40. Rising unemployment rate amid falling wage growth rate in Canada also reduces the market pricing of a December BoC rate hike relative to the Fed."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Fed decision, US inflation and Middle East tensions take centre stage. Explore the US dollar, gold and AUD/USD outlook for Australian traders.
Bitcoin price enters November defending $76,000, the average cost basis of short-term holders. The level was held after the Binance hack pushed BTC to a six-week low of $76,275.The shock from Binance
One sentence helped lift CoreWeave (CRWV) stock 15.6% to $56.33 in premarket trading Wednesday. CEO Michael Intrator told investors the AI cloud company would stop borrowing where lenders charge it mo
Gold plunges below US$3,900, WTI oil jumps over 2%, and Nvidia falls after its CEO exits. Explore the latest market news and outlook for Australian traders.
Two XRP Ledger networks will be wiped clean on November 25 after a server crash left critical testing infrastructure unable to recover.The announcement comes as XRP struggles near $1.03, raising quest
Related Instrument
