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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