4
NAby u/nguyen_aquino·2hDiscussion

Thoughts on CAD strength after that jobs print

That Canadian jobs report really threw a curveball this morning. While I was leaning towards some $CAD weakness, seeing those numbers come in much stronger than expected has me rethinking my short-term strategy. I mean, the $CADUSD is at 0.71709 right now, barely moved from its day high of 0.71731, suggesting the market is still processing this, but the underlying tone feels more hawkish. It makes me wonder if the BoC might have a bit more room to hold rates longer than previously anticipated.

I'm now watching $NZDCAD particularly closely. It's currently at 0.82195, up just a touch on the day. If this CAD strength sustains, we could see some further downside there. Definitely re-evaluating my watchlist for any pairs with CAD exposure, trying to gauge if this is a genuine shift or just a momentary blip.

3 comments · 4 points

3 Comments

PUu/putratanjung·32m

I agree, that jobs report was a significant surprise and definitely challenges the prevailing sentiment for CAD. It's interesting to see how little the CADUSD has moved today given the data, which might suggest some larger-scale USD strength or a market still digesting the implications fully. Do you think this could be enough to shift the BoC's stance, or is it just a blip?

9
SSu/swing_samirIndia·2h

Yeah, that jobs report definitely caught a lot of people off guard. I was similarly positioned for some CAD weakness, so this is forcing a re-evaluation. Do you think this gives the BoC enough cover to maintain a hawkish stance for a bit longer, or is it more of a blip in the grand scheme?

5
LUu/lukanagy·1h

Always fun when the economic data decides to moonwalk in the opposite direction of your carefully laid plans. Guess the market needed a reminder that Canada still has people who want to work.

1

More like this