Canadian jobs also in the spotlight today- check out the USD/CAD

The US monthly jobs report is not the only report of its kind due out at 1.30pm GMT today. We also get the February monthly jobs report from Canada. That is expected to show a payroll increase of around 20k last month, compared to the 76k gain in January. The unemployment rate is forecast to rise slightly, from 6.6% to 6.7%. As usual the split between full and part-time jobs will be in focus for whatever market reaction the data throws up. To be honest though, with all the focus right now on US trade tariffs and how that might impact Canada, this report could just be a distraction, but that is not to discount whatever immediate reaction it might throw up. On Tuesday the rebound in the USD/CAD stalled at 1.4543 and set in place a potential double top on the daily charts, as it had topped out the day before at 1.4542. Since then it has fallen back to a low at 1.4242 set yesterday afternoon. It has reclaimed the 1.43 handle today though, but overall it is US dollar weakness that has characterised trading for most of this week. Immediate support and resistance is in place at 1.4206 and 1.4347. The high seen so far today has been set at 1.4321. The USD/CAD is currently trading at 1.4318