USD/CAD is down 35 pips to 1.3527 following in the present day’s jobs report, that is about 20 pips decrease than earlier than the info however above the session low of 1.3518.
The broader market seems to be catching its breath in the present day after a buzz-filled November. That is left a number of FX charts chopping round sideways in the present day and opened the door for the loonie to take the lead. Many are ready for Powell’s feedback at 11 am ET to set the highest for the US greenback and danger trades.
Within the larger image, USD/CAD is at a two-month low because the US greenback recedes on the tail finish of a robust 12 months. The market is pricing in aggressive Fed cuts, which is untimely from the place I stand however matches with historic precedent.
