The Canadian Dollar (CAD) is giving a mixed performance on Friday, climbing against the majority of its major currency peers but backsliding against the US Dollar (USD).
Canadian Dollar tumbles -0.6% against US Dollar on Friday. Canada added more jobs than expected but is eclipsed by US NFP . Bumper job additions and rising wages crimp rate cut hopes. The Canadian Dollar is giving a mixed performance on Friday, climbing against the majority of its major currency peers but backsliding against the US Dollar .
The pair is set to continue grinding sideways in the medium-term as buying power in the US Dollar evaporates at familiar technical highs. Daily candlesticks show the pair on pace to see its strongest close in over a month, and bumping into its highest bids since early May. Consolidation remains the name of the game in the long-term, though USD/CAD continues to grind out chart paper north of the 200-day Exponential Moving Average .
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