Canadian Dollar falls across the board on Friday. Canada absent from economic calendar until next Tuesday. US data broadly misses the mark, particularly in terms of job gains. The Canadian Dollar fell across the board on Friday after US Nonfarm Payrolls and wage data gave a wide miss on forecasts, sending the Canadian Dollar into the low end after an early spark. The US’ ISM Services Purchasing Managers Index also fell back into contraction territory for the first time since January of 2023.
USD/CAD rallied to the top end of a recent demand zone between 1.3680 and 1.3630 after a quick descent Friday morning into 1.3610. The pair’s downside run proved to be short-lived, and bids are back to challenging chart territory near 1.3700.
Source: Financial Digest (financialdigest.net)
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