USD/CAD corrects after US NFP, remains well-supported above 1.3900
01.11.2024, 14:21

USD/CAD corrects after US NFP, remains well-supported above 1.3900

  • USD/CAD falls slightly to near 1.3900 after the US NFP report for October.
  • Labor growth was significantly lower due to hurricanes that affected various regions.
  • The US Manufacturing PMI surprisingly declined at a faster pace.

The USD/CAD pair corrects mildly to near the round-level support of 1.3900 in Friday’s New York session. The Loonie asset drops after the release of the United States (US) Nonfarm Payrolls (NFP) data for October, which showed lower job additions at 12K against the estimates of 113K and the former release of 223K in September, downwardly revised from 254K.

Fresh payroll data appears to be in sharp contrast against the ongoing recruitment trend due to hurricanes in Florida and strikes in the aerospace industry.

The Unemployment Rate remained steady at 4.1%, as expected. Also, Average Hourly Earnings rose expectedly by 4.0%.

The immediate effect of the labor market data was bearish on the US Dollar (USD), while it recovered all intraday losses. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, strives to gain ground above 104.00.

Meanwhile, the ISM Manufacturing PMI for October has come in surprisingly weak. The Manufacturing PMI, which represents activities in the manufacturing sector, declined to 46.5. Economists expected the index to continue to contract but at a slower pace to 47.6 from 47.2 in September.

In the Canadian region, rising expectations of more interest rate cuts by the Bank of Canada (BoC) continue to weigh on the Canadian Dollar (CAD). The BoC has already reduced its key borrowing rates by 125 basis points (bps) to 3.75% this year.

 

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik