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March 10, 2023
Tentatively higher from an earlier low of 1.3822, USD/CAD is up to 1.3842 today, adding 15 pips, or 0.11%, to yesterday's closing price of 1.3827.
Canada Employment Change data will be released today at 13:30 UTC, with an expected decline to 10,000.
Uptick comes while some more positive signs for US Dollar-Canadian Dollar are out as United States Initial Jobless Claims published yesterday at 13:30 UTC came out at 211,000, falling short of the 195,000 projections and continuing its decline from the previous 190,000 figure.
Other currencies are also rising as having closed the previous session at 144.06, EUR/JPY is up 0.45% today to currently trade at around 144.7. USD/JPY is up 0.38%. GBP/JPY rises 0.39% to trade around 162.95.
Positive indicators for US Dollar-Canadian Dollar are expected going forward as today at 13:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 205,000 from the preceding figure of 517,000.
Also worthy of note, Canada Employment Change expected to decline to 10,000 while its preceding data was 150,000, data will be available today at 13:30 UTC.
Elsewhere, United States Unemployment Rate figure is projected at 3.4. It previously stood at 3.4; data will be released today at 13:30 UTC.
The currency pair has been trending positively for about a month. Having established significant support at 1.1321 approximately 3 months ago, US Dollar-Canadian Dollar's share price has bounced 22.13% higher.
