#USDCAD @ 1.35035 : Strong Canadian labour market data to support Loonie – Commerzbank

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

After Loonie was able to gain noticeably yesterday, the market is likely to look with excitement at the labor market report for April. Economists at Commerzbank analyze how could the CAD react to Canadian employment data.

“Probably only another strong labor market report – especially compared to the US data – could fuel expectations for a further BoC rate step, which is likely to support CAD. Strong data could certainly lead to rate cuts, which the market has clearly priced in for this year, being postponed, i.e. narrow the gap to market Fed rate expectations, a fact that should also benefit the Loonie.”

“As regards the simmering uncertainty on the market possible CAD gains as a result of strong labour market data should remain limited though. A surprisingly weak labour market on the other hand is likely to put pressure on the Loonie.”

[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group