Canadian dollar holds firm on strong jobs data | FX Research
Markets are already showing signs of recovery after the sharp risk-off gap lower. The market selloff around tariffs appears overstated, likely exacerbated by thin trading conditions.
Recent U.S. tariff actions could be scaled back as negotiations progress, and markets tend to fill open gaps. The Canadian dollar saw significant weakness, hitting its lowest level against the U.S. dollar since 2003, prompting countermeasures from Canada.
The euro faced additional downside pressure following weaker-than-expected German industrial production data, while the Canadian dollar held up well, supported by a stronger-than-expected Canadian jobs report.
Key events to watch on Monday include an ECB speech by Christine Lagarde, the Bank of Canada’s Market Participant Survey, and US consumer inflation expectations.
Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
Recent U.S. tariff actions could be scaled back as negotiations progress, and markets tend to fill open gaps. The Canadian dollar saw significant weakness, hitting its lowest level against the U.S. dollar since 2003, prompting countermeasures from Canada.
The euro faced additional downside pressure following weaker-than-expected German industrial production data, while the Canadian dollar held up well, supported by a stronger-than-expected Canadian jobs report.
Key events to watch on Monday include an ECB speech by Christine Lagarde, the Bank of Canada’s Market Participant Survey, and US consumer inflation expectations.
Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
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