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March 03, 2023USD/CAD is grinding lower from 1.3596 to 1.3585, shedding 11 pips (0.08%) today.
Data for United States Initial Jobless Claims published yesterday at 13:30 UTC came out at 190,000, beating projections of 195,000 and showing improvement over the preceding figure of 192,000.
Meanwhile, United States Nonfarm Productivity (QoQ) (Q4) came out at 1.7, while a consensus of analysts was expecting 2.6. United States Unit Labor Costs (QoQ) (Q4) released yesterday at 13:30 UTC with a figure of 3.2, while the previous figure was two.
Though US Dollar-Canadian Dollar has been dropping, other pairs have been performing better: having closed the previous session at 1.1943, GBP/USD is up 0.18% today to currently trade at around 1.1965. GBP/JPY goes up 0.16% to trade around 163.5. GBP/NZD climbs 0.12% to trade around 1.9222.
Furthermore, Canada Building Permits is expected today at 13:30 UTC. Canada Labor Productivity (QoQ) (Q4) will be released today at 13:30 UTC. United States ISM Non-Manufacturing PMI (Feb) is scheduled for today at 15:00 UTC.
The currency pair has been trending positively for about 30 days. US Dollar-Canadian Dollar is now trading 20.09% away from its significant low of 1.1321 first tested 3 months ago.
