Canadian dollar Weakens Noticeably on Friday ahead of Canada’s Job Results, 35+ PIP Volatility Likely in CAD Parity; March 12, 2021

Canada’s Employment Change Results

Today Canada will release job results at 1330 GMT/1900 IST. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts. On the other side, unemployment rate is generally viewed as a lagging indicator; the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

Let’s see how CAD has reacted during the previous data release:

Feb 05:

Jan 08:

(Note – Important to note here that, most of the time Canada and U.S. have released the Fundamental indicators at the same time, and today also Canada’s Job data is scheduled with U.S.’s PPI data and therefore parity may give two side movement according to the actual data.)

Technical View:

USD/CAD: The Canadian dollar trades marginally lower on Friday and touches 1.2573 mark in European hours. The pair made intraday low at 1.2524 mark. A day and H1 chart with triple EMA confirms the bearish trend for the time being. A sustained close above 1.2565 on H1 chart requires for the upside rally. Alternatively, a consistent close below 1.2524 will check key supports too.

Key Resistances: 1.2578, 1.2610, 1.2645

Key Supports: 1.2524, 1.2488, 1.2465

Take a look and do trade wisely!
Good Luck

Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts



Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.

Mail us

Drop mail at:

Contact us

Call or Whatsapp
+44 7441 416320

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses because of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.

TP Global FX Limited is registered and regulated by Vanuatu Finance Service Commission (VFSC) with a registration number 40409.

TP Global Limited is registered and regulated by FINANCIAL SERVICES COMMISSION (FSC) MAURITIUS with a registration number GB21026474

TP Global FX Limited is registered and regulated by Financial Services Commission, Mauritius with a registration number GB21026474

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

mappin at-sign phone close