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May 01, 2023After closing at 1.3547 Friday, USD/CAD began today at 1.3542 with significant bullish sentiment driving USD/CAD's price action higher. So far today, price action has drawn out a distinct 1.3526 to 1.3668 range.
US Dollar-Canadian Dollar is currently trading at 1.3547 following the release of ISM Manufacturing PMI (Apr) data from the United States.
At the same time, United States ISM Manufacturing PMI (Apr) came out at 47.1, while a consensus of analysts was expecting 46.8. United States ISM Manufacturing Prices (Apr) released today at 14:00 UTC with a figure of 53.2, while the previous figure was 49.2. United States ISM Manufacturing Employment (Apr) came out at 50.2, while a consensus of analysts was expecting 47.9.
Other currencies are also rising as USD/JPY surges 0.9% to trade around 137.47.
Meanwhile, GBP/USD falls 0.59% to trade around 1.2493. GBP/CAD closed at 1.6924 (down 0.59%).
The market is looking forward to the release of new data: United States JOLTs Job Openings (Mar) scheduled to come out tomorrow at 14:00 UTC.
As things stand, US Dollar-Canadian Dollar is 19.66% away from a significant low of 1.1321 first set 5 months ago.
