Home Analysis USD/CAD holds strongly above 1.2900 level

USD/CAD holds strongly above 1.2900 level

USDCAD holds strongly above 1.2900 level - forexspacex.com

USD/CAD jumped higher on Thursday and Friday as the US dollar gained some ground on better-than-expected jobs data against the basket of major currencies. The United States added 428,000 jobs in April, which exceeded the market expectations of 391,000 jobs. The unemployment rate came out to be 3.6% for April.  Consequently, the market sentiment towards the US dollar turned bullish and USD/CAD posted a 0.79% gain on Thursday and a 0.59% gain on Friday respectively. The current price is trading well above the 9-day and 18-day exponential moving average, indicating a bullish bias.

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