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USD/CAD shrugs off jobs report

As reported here on Friday afternoon, the much better than forecast September Canadian jobs report sent the USD/CAD immediately lower. Given the better than expected jobs data, the fall from around 1.3780, to 1.3725 was not at all surprising really. However, the Canadian dollar was not able to make a lasting move higher and the USD/CAD later closed the week in the US at 1.3762. That close was surely a disappointment to any CAD bulls and that has led the USD/CAD to edge higher today and higher than it was before that jobs data hit the screens. The high seen so far has been set at 1.3789 and the prior session low has been at 1.3753. So, is it a case of what should be lower is now higher and that will deliver more upside? Well, it seems that way just now. The USD/CAD is currently trading at 1.3787
 

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