USD/CAD – Canadian Dollar Slide Continues, Pair Trading Above 1.26
The Canadian dollar continues to lose ground on Thursday. In the
North American session, USD/CAD is trading above the 1.26 line and the
pair has jumped over 200 points since early Wednesday. On the release
front, US numbers were a mix. Unemployment Claims sparkled, dropping to
265 thousand. However, Pending Home Sales declined 3.7%. There are no
Canadian releases on Thursday. On Friday, we’ll get a look at the only
Canadian event of the week, GDP. The markets are expecting a decline of
0.1%. A weak reading could send the reeling loonie even lower.
US employment numbers have improved as the economy chugs along. This
was underscored by Unemployment Claims, which plunged to 265 thousand,
down from 307 thousand a week earlier. This marked the indicator’s
lowest level since April 2000. The news was not as positive from Pending
Home Sales, which declined 3.7%, its worst reading in a year.Read more at Click here / www.trade4x.com
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