Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/CAD pair approaches the 100-day EMA at 1.3520, yet shy of testing it. The US Bureau of Labor Statistics (BLS) reveals unemployment claims rise above estimates.
The USD/CAD pair stumbles below the 50-day Exponential Moving Average (EMA) spurred by a risk-on impulse, as shown by Wall Street opening in the green.
Market participants estimated that the US Federal Reserve (Fed) would not hike rates at the May meeting while the buck weakens. At the time of typing, the USD/CAD is trading at 1.3528, below its opening price by 0.22%.
The Canadian Dollar (CAD) strengthened for the fourth straight day, with the USD/CAD tumbling below 1.3600 for the first time since March 7. The greenback’s fall continued after the US Bureau of Labor Statistics (BLS) revealed unemployment claims. Initial Jobless Claims for the week ending on March 25 rose 198K, above estimates of 196K.
