Like its commodity cousin, the AUD, the loonie is also reasonably buoyant on the day, despite overall dollar strength. Dollar-Canada holds at C$1.0131, a bit below its 55-day moving average, at C$1.0140 Thursday. The pair has closed below the 55-day since Tuesday. Earlier, dollar-Canada flirted with its 200-day moving average (C$1.0116). The pair last closed below the 55-day in mid-May. All eyes are now on Friday’s data line-ups. Stats Canada will release June Canadian jobs data at 8:30 am ET just as US non-farm payrolls hit the wires. The median estimate of economists looks for June Canadian job gains of 5,000 (estimates range from -10k to +16k). The unemployment rate is expected to remain at its current level of 7.3%.
EasyForexNews Research Team