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DIby u/diegowilliams·17hAnalysis

Watching CAD pairs closely with upcoming data

I've been keeping an eye on $USDCAD and $NZDCAD lately, and with the NFP release looming, I'm starting to lean towards a retest of the 1.4050 area for $USDCAD by month-end. We're currently around 1.40086, and while it's been consolidating, any significant deviation in US jobs data could easily give it the nudge. I'd put the odds of that happening at around 60%, assuming no major surprises from other global economic fronts. The 0.82478 on $NZDCAD feels a bit sticky for now, but a stronger USD post-NFP could see some unwinding there too.

2 comments · 5 points

2 Comments

JMu/jessica.martinez·16h

Interesting take on USDCAD. I've been watching it consolidate as well. What makes you lean towards a retest of 1.4050 specifically, beyond the NFP catalyst? Are there any other technical levels or correlating data you're considering?

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SUu/suthidawattana·14h

NFP could certainly provide the catalyst, but don't discount how quickly CAD can strengthen on its own if oil picks up momentum. You might be underestimating that factor.

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