US Dollar (USD) is likely to trade with a downward bias, but any decline is unlikely to break below 7.1100. In the longer run, downward bias is building, but USD must first close below 7.1100 before a sustained decline can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The US Dollar (USD) is trading mixed as investors await the Bureau of Labor Statistics’ benchmark revisions, which could slash reported payroll growth by as much as 700k over the past year.
The Canadian Dollar (CAD) is holding within near-term levels on Monday, pushing USD/CAD into a sideways grind over three market sessions. Despite recent shakes on the chart and the appearance of a potential technical floor, the CAD continues to explore lower closes against the Greenback.