On December the 3rd Canada reported a 6% unemployment rate, while the expectations were at a 6.6% level. Less than expected unemployment rate is always hawkish news for the national currency.
Trading plan for February 8
The Canadian dollar is under the pressure because of the sliding oil prices. Mr. Trump said that isn't going to meet with the Chinese President before March 1. More uncertainties around the trade deal, more negative the market sentiment, more pressure on the risky assets, such as oil. For today, we anticipate the jobs data from Canada. Forecasts are weak, however, the actual data may change the situation.
Let's check how to trade USD/CAD and CAD/JPY.
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