Canadian Dollar Climbs On Risk Appetite
03 Maggio 2019 - 08:10AM
RTTF2
The Canadian dollar advanced against its major counterparts in
the early European session on Friday, as European shares
strengthened ahead of U.S. jobs data, due out later in the day.
Economists expect the employment to increase by 185,000 jobs in
April following the addition of 196,000 jobs in March. The
unemployment rate is expected to hold at 3.8 percent.
Banking shares rose, led by a rise in shares of HSBC Holdings,
after the lender reported first-quarter profit that beats
estimates.
Meanwhile, Chinese official media Global Times reported on
Thursday that the 10th round of high-level economic and trade
talks, which concluded on Wednesday, had fewer details about
specific discussions and results.
The currency held steady against its major counterparts in the
Asian session, excepting the aussie.
The loonie rose to 82.85 against the yen, from a low of 82.69
hit at 9:30 pm ET. The next key resistance for the loonie is likely
seen around the 84.00 region.
The loonie that closed Thursday's trading at 1.3474 against the
greenback appreciated to 1.3459. On the upside, 1.33 is possibly
seen as the next resistance level for the loonie.
The Canadian currency touched a 2-day high of 1.5022 against the
euro, compared to 1.5049 hit late New York Thursday. The loonie is
seen finding resistance around the 1.48 level.
The Canadian unit rose back to 0.9410 against the aussie,
reversing from a low of 0.9431 touched at 6:00 pm ET. Next key
resistance for the loonie is seen around the 0.925 level.
Looking ahead, U.S. advance goods trade data and wholesale
inventories for March, as well as jobs data and ISM services PMI
for April are scheduled for release In the New York session.
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