M&A demand remains the driver for CAD strength, traders say, pushing USD/CAD back to the 0.9930s after a pop to 0.9970 after weak Canadian employment report.
Both AUD and CAD are trading firmly despite drops in risk-appetite (as reflected in stock prices and bond yields) and a broad drop in commodity prices (CRB down 0.8%) .
0.9910 is next support for USD/CAD amid vague whispers of a 0.9900 barrier being in play.
