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USD/CAD Loonie Flat Awaiting Canadian and U.S. Jobs Data
The wildfire in Fort McMurray, Alberta continues to rage on. Losses from the ongoing disaster are calculated at $1 billion. The price of oil rose as it is estimated 500,000 barrels are offline as the fire hit the crude producing province. The price of crude has kept the CAD in current levels as the USD rally has slowed down awaiting the U.S. non farm payrolls (NFP) report on Friday. The mixed economic data in the U.S. has managed to steal some of the momentum away from the USD. The greenback has cleared a lower than expected ADP private payroll number, higher than expected claims and a lower than forecasted US ISM ... (full story)