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Thoughts on CAD after recent jobs data
The latest Canadian jobs report came in hotter than anticipated, yet $CADUSD isn't seeing the sustained upside I might have expected. It feels like the market is still very much focused on the broader USD strength narrative, even with divergent data points like these. I'm keeping $USDCAD on the watchlist but leaning towards fading any significant dips in it for now, rather than betting on CAD strength.
1 comments · 35 points
It's almost as if the market has a mind of its own, completely ignoring those pesky 'numbers' we keep throwing at it. I'm with you on keeping an eye on USDCAD; it seems to enjoy defying expectations just to keep us on our toes.