News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.82%, while traders in France 40 are at opposite extremes with 76.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ejfY0hE9tG
  • ECB holdings under PEPP rose by EU17.1B in week ended April 9th. #ECB $EUR
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.11% Gold: -0.47% Silver: -0.81% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/PF2xXX4MTU
  • US Dollar Index (DXY) slowly working its way lower towards next level of support. Get your $USD market update from @PaulRobinsonFX here:https://t.co/z3VtBpKL7J https://t.co/zXGIad1jSk
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 0.09% Germany 30: 0.06% US 500: -0.16% Wall Street: -0.18% FTSE 100: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/tBZqKf1RaO
  • $USDCHF fell to an intraday low around the 0.9230 level today, hitting a fresh three week low. The pair rose to its highest level since July in early April before turning back downwards amidst increased US Dollar weakness. $USD $CHF https://t.co/7aHWGea4Ta
  • $WTI Crude Oil hit its highest point in nearly a week this morning, rising to trade at the 60.00 level for the first time since last Tuesday. Oil has struggled to move higher in April after hitting pandemic highs in early March. $OIL $USO https://t.co/kblvNhNIEU
  • Heads Up:🇬🇧 BoE Tenreyro Speech due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-12
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.77%, while traders in France 40 are at opposite extremes with 76.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xcAJAhXppm
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the weekly open! https://t.co/chKtG7waxH
Canadian Dollar (CAD) Spikes After Jobs Report Smashes Expectations

Canadian Dollar (CAD) Spikes After Jobs Report Smashes Expectations

Justin McQueen, Analyst

CAD Price Analysis & News

  • Canadian Employment Change 259.2k vs Exp. 75k
  • Unemployment Rate Drops 1.2ppts to 8.2%
  • US Dollar Falls

BOTTOM LINE: A very strong employment report, adding to the slew of data that has surpassed the Bank of Canada’s forecasts. The headline rate rose 259.2k, topping expectations of 75k, while this was led by the part-time jobs increase, there was also good gains in full-time employment. Meanwhile the unemployment rate fell to 8.2%, significantly below expectations of 9.2%. Reminder that earlier in the week, the BoC had acknowledged that the rebound in the economy had been stronger than what they had expected, however, remained cautious given the uncertainty over the outlook. That said, with data as strong as today’s this will undoubtfully raise expectations that the BoC will be one step closer to looking at tapering QE.

MARKET REACTION: CAD Strengthens Across The Board

As to be expected from a stellar jobs report, the Canadian Dollar rose across the board with USD/CAD falling to fresh intra-day lows. A similar reaction had been observed in CAD crosses with CADJPY testing 87.00. In turn, while this is likely to underpin the Canadian Dollar, my preferred play would be against the Euro and AUD. The sentiment in the Euro remains soft with the German Health Agency stating that a third coronavirus wave could be taking shape. Italy have announced that a one month nationwide lockdown take place from mid-March, which comes at a time where the EU have faced headwinds pertaining to their vaccine rollout program. Alongside this, the ECB have announced that they will significantly increase the pace of PEPP purchases over the next quarter.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Justin McQueen
Trading Forex News: The Strategy
Get My Guide
Canadian Dollar (CAD) Spikes After Jobs Report Smashes Expectations

DATA OVERVIEW: DailyFX Economic Calendar

Canadian Dollar (CAD) Spikes After Jobs Report Smashes Expectations

Source: DailyFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES