USD/CAD: Supported on diverging jobs data – TD Securities

TD Securities analysts see the Canadian Dollar (CAD) under pressure versus the Dollar, with USD/CAD expected to stay supported around 1.40.

Jobs divergence underpins Dollar strength

"For investors looking to chase USD upside, we see USDCAD more supported at 1.40 on the back of diverging jobs data."

"Across global major currencies, we see room for the USD to rally selectively against CAD and KRW in the near-term. Diverging employment data releases will likely keep USDCAD supported above 1.40. Rising unemployment rate amid falling wage growth rate in Canada also reduces the market pricing of a December BoC rate hike relative to the Fed."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

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