Double-whammy sends USD/CAD to one-month low

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USD/CAD is at the lowest since early November after good US employment numbers and great Canadian jobs data.

The next support level is the Nov 6 low of 0.9873.

CAD is absolutely crushing it on the crosses. CAD/JPY is at the highest since March and EUR/CAD is confirming a massive rejection of 1.3000/50.

If a positive verdict on Nexen comes down today, it will add another leg of Canadian dollar strength.

Author: Adam Button

Adam Button is the managing editor of ForexLiveâ„¢. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.


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  1. Been short the USDCAD for several days now. Been tough to stay patient but, starting to pay off. Thanks Adam.

  2. Hi Adam

    Think i read somewhere that the nexen decision may be delayed but i think it will still go through eventually, on another note what do you think of gold, i see the rebound from the initial drop after nfp seems to me to be a bullish sign.

  3. Probably read that here yesterday. I hope it’s not delayed but gov’t hasn’t said for sure.


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