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Canadian dollar moves slightly positive to USD

By MoneyWay | May 3, 2019

The Canadian dollar is stronger to the USD as traders flatten their positions for the weekend. Also as there seems to be ongoing rumours of a pending U.S.-China trade deal, traders are believing it is better to stay flat until things pan out. Waiting for the dust to settle would be the prudent thing to do.

Oil is up slightly, the U.S. employment numbers are still showing signs of a strong economy, and the need for commodities. Along with the better job numbers is the fact that even though companies are paying higher wages the overall rate of inflation has not increased, leaving the Federal Reserve on the sidelines when it comes to rate hikes.

Currently             Close                     Range

USDCAD               1.3423                   1.3475                   1.3407-1.3490   

EURCAD               1.5017                   1.5053                   1.4988-1.5054

GBPCAD               1.7635                   1.7557                   1.7497-1.7674

                                                                                                Prior                      Actual

US:   Nonfarm Payrolls April         M/M                     189K                      263K

         Unemployment rate                                             3.8%                      3.6%

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