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USD/CAD pressing higher again ahead of Canadian jobs report tomorrow

Perhaps we should not forget that the US monthly jobs  report is not the only one on the radar tomorrow, because the Canadian jobs data for the same month will be released at the same time too, at 1.30pm GMT. Now ahead of that this afternoon, the USD/CAD is on the rebound once more and right now not far off session highs. The USD/CAD had pared its most recent gains earlier today. Yesterday the USD/CAD rose to just above 1.3370 and later closed in the US at 1.3353. Earlier today the USD/CAD dropped back to 1.3317, but it is edging higher again just now, buoyed by those higher US yields. The outlook for the Canadian jobs report tomorrow is not so hot and the markets are expecting a weaker payroll count and higher unemployment rate. That could get priced in, if the USD/CAD extends above 1.3370 and beyond 1.34. However, it has to get there first. The high seen so far today has been set at 1.3362 and it is currently trading at 1.3352
 

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