Forex: USD/CAD hits 1.0555 in quiet New York trading

on Jul 4, 2013
Listen Thursday July 4th:_ In the early New York session so far, the greenback has firmed against the Canadian dollar and the USD/CAD has risen to a fresh session high at 1.0555, increasing 0.57 percent intraday. The pair’s rally started during Asian trading, when it fell to what remains the day’s low at 1.0496.

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With an absence of Canadian economic updates today and US banks closed for the country’s Independence Day holiday, traders are now looking forward to the Canadian Net Change in Employment and Unemployment Rate releases, both for June, which are due out tomorrow at 13:30 BST.

Analysts’ expectations are for an unchanged unemployment rate in June of 7.1 percent.
US Non-farm Payrolls for June is also scheduled for tomorrow at 13:30 BST, with forecasts for an increase of 165,000 jobs after 175,000 in the prior month.
And US unemployment for June, also for release at 13.30 BST, is expected to fall to 7.5 percent from May’s 7.6 percent.


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