The cross between the Canadian Dollar and the Japanese Yen is seen as a strong substitute for the USD/JPY pair when a trader is wary of trading the US Dollar. However, CAD/JPY is historically more sensitive to changes in market-wide sentiment than USD/JPY due to the historically higher yield attached to the Canadian Dollar. Further, the 'Loonie' - as the Canadian Dollar is known - is affected by oil prices because of Canada's energy exports.


USD/CAD Trades Higher Despite Jobs Growth Picking Up in Canada

A pick up in hiring may reinforce sentiment that the Canadian economy is due to rebound in the second half, after low energy prices and natural disasters wreaked havoc in early-2016.
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USD/CAD Jumps as BOC Signals Dovish Shift amid Weaker Growth

Japanese Yen Sees Consecutive Losses Heading Into US Jobs Data

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USD/CAD Back to Lows Despite May Canadian CPI Missing Expectations

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Analyst Picks

Michael Boutros   

Currency Strategist

My Picks: Near-term Setups in EURAUD, GBPUSD, AUDJPY & CADJPY
Expertise: Near-term Technicals
Average Time Frame of Trades: 1-2 Days


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