Forex: USD/CAD hovers around 1.0265

on Jun 7, 2013

The pair was little affected by yesterday’s US jobless claims update, hitting 1.0369 at one point. Later in the day, on the back of an Ivey Purchasing Managers Index increase to 70.8 in May, the loonie came under pressure and the pair hit 1.0197 daily low. There was subsequent volatility in which 1.0365 daily high was reached.

In today’s European session, the pair began at 1.0269 and has since ascended to 1.0286 daily high.
At 13:30 BST today, Canada’s National Statistics Agency is to release Net Change in Employment data for May. The forecasts are for an increase to 15,000 from 12,500 from April. The Canadian Unemployment Rate for May is also scheduled for 13:30 BST. Analyst estimates are for no change at 7.2 percent.

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