Canadian Dollar Outlook: USD/CAD Levels to Watch Ahead of Jobs, NFP Data
2021-02-04 03:30:00
Daniel Dubrovsky,
Strategist
Canadian Dollar, USD/CAD, CAD Index, Jobs Report, Treasury Yields – Analyst Pick
Canadian Dollar eyeing local and neighboring jobs report
USD/CAD remains glued to range-bound price action
What are levels to watch for broader trend developments?
The Canadian Dollar has been struggling to find further momentum against the anti-risk US Dollar as of late. A closer look reveals that despite recent consolidation, the broader uptrend in CAD remains intact. This is ahead of key data this week that may drive volatility in both the Loonie and Greenback. Jobs data are due from the US and Canada, offering further clues about the pace of economic recovery from Covid-19.