Forex: USD/CAD on mild gains ahead of jobs report

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FXstreet.com (Barcelona) - USD/CAD rose above 1.0450 on Friday, but a weak hold gave up the level to retreat over 20 pips at 1.0430 (current price). The market awaits the change in Canada's jobs market to decipher future directions for the pair. The expected unemployment rate is set at 8.1%.

After 3 days on sharp falls mainly weighed by a higher courage towards riskier assets, the Greenback paused its downward slope right at 1.0375 on Thursday, a 0.55% fib retracement (June 21 bottom side swing -July 6 top side swing). After a close at 1.0416, the pair opened teetering up and down, yet not defining a clear bias. USD/CAD gained 0.14% thus far.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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