The Canadian Dollar (CAD) faced downward pressure as a result of a juxtaposition between a robust US employment report and lackluster Canadian labor figures. While initially faltering, the CAD began to recuperate lost ground as the immediate impact of the data subsided.
Currently trading at 1.3599, the CAD contends with a resolute US Dollar (USD) poised for potential continuation of its bullish trajectory. The price maintains its position within a bullish channel characterized by higher highs and lower lows.
The US Nonfarm Payrolls report for March surpassed expectations, propelling US Treasury yields and the USD upwards. Despite the bullish market response, a closer examination of the data unveiled a slowdown in yearly wage growth, prompting speculation regarding the possibility of future Federal Reserve (Fed) rate cuts. This speculation persists despite the hawkish commentary from Fed Governor Michelle Bowman.
In contrast, Canada witnessed a decline in net employment levels in March, contrary to initial expectations. This divergence in economic performance between the US and Canada reinforces expectations for a bullish continuation of the USD.
Looking ahead, market participants will monitor evolving economic indicators and central bank rhetoric for further insights into the trajectory of the CAD and USD. Amidst this uncertainty, a bullish bias towards the USD prevails, supported by favorable economic data and Fed policy expectations.
Currently trading at 1.3599, the CAD contends with a resolute US Dollar (USD) poised for potential continuation of its bullish trajectory. The price maintains its position within a bullish channel characterized by higher highs and lower lows.
The US Nonfarm Payrolls report for March surpassed expectations, propelling US Treasury yields and the USD upwards. Despite the bullish market response, a closer examination of the data unveiled a slowdown in yearly wage growth, prompting speculation regarding the possibility of future Federal Reserve (Fed) rate cuts. This speculation persists despite the hawkish commentary from Fed Governor Michelle Bowman.
In contrast, Canada witnessed a decline in net employment levels in March, contrary to initial expectations. This divergence in economic performance between the US and Canada reinforces expectations for a bullish continuation of the USD.
Looking ahead, market participants will monitor evolving economic indicators and central bank rhetoric for further insights into the trajectory of the CAD and USD. Amidst this uncertainty, a bullish bias towards the USD prevails, supported by favorable economic data and Fed policy expectations.
トレード稼働中:
✅ Looks Good
トレード終了: 利益確定目標に到達:
✅ CLOSE THIS
✅ TELEGRAM CHANNEL: t.me/+VECQWxY0YXKRXLod
🔥 UP to 4000$ BONUS: forexn1.com/broker/
🔥 USA ZERO SPREAD BROKER: forexn1.com/usa/
🟪 Instagram: www.instagram.com/forexn1_com/
🔥 UP to 4000$ BONUS: forexn1.com/broker/
🔥 USA ZERO SPREAD BROKER: forexn1.com/usa/
🟪 Instagram: www.instagram.com/forexn1_com/
