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June 03, 2023A quick look at yesterday: US Dollar-Canadian Dollar dipped as low as 1.3403 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session (1.3449) with USD/CAD closing the day at 1.3421.
United States Non Farm Payrolls improved upon its previous reading of 294,000 with a new data release of 339,000.
On the flip side, highly important Average Hourly Earnings data from United States beat analyst expectations of 0.4% with a reading of 0.3%. Data from United States concerning Unemployment Rate was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 3.4 to 3.7 this month.
US Dollar-Canadian Dollar's value drop coincided with the fact that EUR/AUD dips 1% yesterday and closed at 1.637. GBP/CAD lost 0.78% yesterday and closed at 1.6841.
Though US Dollar-Canadian Dollar has been dropping, other pairs have been performing better: USD/JPY is trading around 139.97 after ending yesterday's session at 138.8 (up 0.84% today).
As things stand, US Dollar-Canadian Dollar is 18.76% away from a significant low of 1.1321 first set 6 months ago.
