USD/CAD Forecast Ahead of US Jobless Claims

From investingcube.com

USD/CAD rallying has eased following the sideways movement of crude oil price. The Canadian dollar is a commodity currency whose value is often impacted by oil prices. On Thursday, WTI futures were down by 0.45% to trade at $59.28. $60 remains a key resistance level that the oil futures can seem to push past. USD/CAD is also set to react to the US initial jobless claims data. Analysts expect the resumption of a downtrend after last week’s rise. The predicted 680,000 is lower than the previous 719,000. Besides, the Federal Reserve’s chair is scheduled to speak later today. Investors are also eyeing Canada’s ... (full story)