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May 05, 2023
After closing yesterday at 1.354, USD/CAD made its largest single-day drop of 159 pips (1.18%) seen recently — now trading at 1.338.
New Canada Employment Change improved upon the previous 34,700 figure while also exceeding analyst expectations with a reading of 41,400.
On the flip side, positive data for US Dollar-Canadian Dollar released earlier when data for Canada Employment Change published today at 12:30 UTC came out at 41,400, beating projections of 20,000 and showing improvement over the preceding figure of 34,700.
While price action maintains a negative bias, Canada Ivey PMI (Apr) released yesterday at 14:00 UTC with a figure of 56.8, while the previous figure was 58.2. Canada Unemployment Rate beats expectations of 5.1 with new data release of five, marks no change over previous data of five.
In the meantime, negative performances are also seen in other pairs as EUR/CAD closed at 1.4743 (down 1.1%). After ending yesterday's session at 1.702, GBP/CAD lost 117 pips and is trading around 1.6902.
Positive performances can be seen by looking at other currencies as GBP/JPY soars 0.95% to trade around 170.31.
Having set a significant low of 1.1321 5 months ago, US Dollar-Canadian Dollar is trading 19.59% higher.
