USD/CAD trades at 1.4073, up 0.45%, as safe-haven demand for the Greenback intensifies ahead of high-impact US and Canadian employment data releases.
The pair has risen 0.45% to near 1.4073 ahead of US NFP and Canadian employment data due today (Nov 06) at 13:30 GMT, holding above the 20-period EMA at 1.4000 with a bullish near-term bias. US jobs are forecast at a soft 40K but with upside risks, while Canada is expected to add 13.6K jobs after -68.3K. The overbought RSI at 71.6 warns the move could be stretched, and the data release could swing the pair either way.
The US Dollar is outperforming broadly, supported by improved safe-haven demand amid a global AI rout, ahead of the US and Canadian employment reports both due today at 13:30 GMT.
Resistance sits at 1.4084, then 1.4167 and 1.4302. Support is at 1.4017, the 20-period EMA at 1.4000, then 1.3950, with 1.3733 as a more distant floor.
The US Dollar Index trades 0.35% higher near 101.95, strengthened by improved safe-haven demand tied to a global AI rout and ahead of October NFP due at 13:30 GMT today. The consensus 40K print is soft, but TD Securities flags upside risks to payrolls, and the Dollar is already the strongest major currency today, notably against the New Zealand Dollar.
Improved safe-haven demand for the US Dollar due to a global AI rout, plus positioning ahead of the October jobs report due today at 13:30 GMT.
The USD/CAD pair climbed to 1.4073 as the US Dollar gained strength from safe-haven demand amid a global AI market rout. Investors are bracing for critical labor market reports from both the US and Canada at 13:30 GMT, with analysts noting upside risks to US payroll forecasts despite a soft 40K consensus. While the pair maintains a bullish bias above the 20-period EMA, an overbought RSI reading suggests the current rally may be stretched.
The US Dollar is outperforming broadly, supported by improved safe-haven demand amid a global AI rout, ahead of the US and Canadian employment reports both due today at 13:30 GMT.
Resistance sits at 1.4084, then 1.4167 and 1.4302. Support is at 1.4017, the 20-period EMA at 1.4000, then 1.3950, with 1.3733 as a more distant floor.