empty
 
 
08.08.2019 02:24 PM
Labour market data set to boost Canadian dollar

USD/CAD pushed to 8-week highs near 1.3350 on Wednesday before a retreat to just below 1.3300.

The Canadian labour-market data is due on Friday with consensus expectations for an employment gain of around 12,000 for July following a 2,000 drop in the previous month, while the unemployment rate is expected to remain at 5.5%.

Housing starts data is also expected to show a sharp decline in June, while building permits have a consensus forecast for a marginal recovery after a 13.0% sharp decline in the previous month. Weak data is priced in with the potential for out-performance.

There is also scope for upside surprises in the labour-market with overall sentiment holding firm.

Global risk conditions will inevitably remain important given a sustained increase in volatility across asset classes.

Fears over the global trade and growth outlook will be a negative factor for the Canadian dollar, while an easing of risks would be a positive one.

Canadian dollar moves will tend to be amplified by shifts in energy prices given that the Canadian currency remains positively correlated with oil.

The pair will remain volatile especially given underlying US-China tensions and the threat that President Trump will reinforce his anti-China rhetoric. However, there are might be some efforts to ease tensions into the weekend with China looking to hold the yuan steady. Any anti-dollar rhetoric would also support the Canadian dollar.

Overall, there is scope for a tentative improvement in risk appetite with buying of risk assets on dips.

This image is no longer relevant

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $6000 lebih banyak!
    Pada Desember kami mengundi $6000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback