USDCAD Movement
For the 24 hours to 23:00 GMT, USD traded flat against the CAD, on Friday, to close at 0.9666.
In the US, the economy added 244,000 jobs in April. In Canada, the unemployment rate declined to 7.6% in April, compared to a rate of 7.7% recorded in March. Additionally, the Canadian economy, added 583,000 jobs in April compared to the prior contraction of 15,000 in March.
In the Asian session at 3:00GMT, the pair is trading at 0.9622, 0.46% lower from the New York session close.
The first area of short term resistance is observed at 0.9694, followed by 0.9766 and 0.9901. The first area of support is at 0.9559, with the subsequent supports at 0.9496 and 0.9361.
Trading trends in the pair today are expected to be determined by data release on housing starts in Canada.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
