Thursday, April 5, 2012

Forex - USD/CAD Short and Longer term prospects

The pair USD/CAD is consolidating after yesterday’s advance. The market awaits Canadian employment data later today (payrolls are expected to increase by 11.3K after declining by 2.8K in February, unemployment rate is also seen higher at 7.5% vs. 7.4%) due at 12:30 GMT. Also watch Ivy PMI at 2:00 p.m. GMT. Analysts at Toronto-Dominion Bank: if loonie fails to find a powerful growth driver, it will risk declining. Read more