USD/CAD Little Changed from Friday’s Jobs Reports
USA and Canada, both released their employment figures on Friday and despite stark contrast between the two reports and the ensuing volatility, the pair’s outlook is little changed
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USA and Canada, both released their employment figures on Friday and despite stark contrast between the two reports and the ensuing volatility, the pair’s outlook is little changed
Particpation Rate Friday's headline NFP disappointed at 210K, missing the consensus of 553K by a large margin. However, of importance, the participation rate ticked up to 61.8%. The series represents the number of the labour force which are either employed or actively seeking employment. This is encouraging as the participation rate has been moving sideways since July 2020 and the upwards movement suggests less discouraged workers and more positivity amongst…
The pair trades on the back foot after last week’s two-way action, in the aftermath of Fed’s hawkish commentary and poor US NFPs
The pair stays on the back foot as investors continue to monitor Omicron developments and await key US Jobs report later in the day
The pair lacks firm direction, as risk tones normalize today, following a few tumultuous days that culminated to new 2021 lows earlier in the week
Weekly Chart The weekly chart below makes for an interesting analysis. This week's candle (aqua arrow), which is still to be completed, is a doji. This is a candle of uncertainty. Bulls tried to take the price up and the bears tried to take the price down, however, despite intentions, the price remains relatively flat for the week. Given the uncertainty surrounding omicron, the doji candle is not surprising. However,…
Sentiment took another nosedive yesterday on news of the first Omicron case in the US, but today the pair rises, in the aftermath of Mr Powell’s two-day hawkish commentary
Risk is at a better place today, allowing the pair to extend its recovery from Tuesday’s 2021 lows, caused by mr Powell’s hawkish testimony
Past Performance: Past Performance is not an indicator of future results. The left chart shows the USDOLLAR daily timeframe. The candlesticks have pulled back but remain in the bullish area, between the upper blue and upper red bands. Yesterday, Fed Chair Powell testified in front of the Banking Senate Committee. The Fed has pivoted. Concerning the word "transitory" in describing inflation, Mr. Powell said that it's "probably a good time…
Fed Chair Powell offered hawkish remarks during yesterday’s Senate testimony and created volatility in the markets, with the pair being soft today
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