Forex, oil, gold, and stocks on April 4-8
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
USD/CAD is down by more than 80 pips on better-than-expected jobs data
Besides the trade optimism, the jobs data supported the Canadian dollar today. The level of employment change advanced by 53.7 thousand jobs (vs. the 11.2 thousand expected), while the unemployment rate fell to 5.5% (vs. the forecast of 5.7%).
Positive figures pulled the USD/CAD lower. The pair has fallen below the 200-period SMA and tested the support at 1.3206. The next support for the pair lies at 1.3197. In case of a breakout, sellers will pay attention to the 1.3176 level. From the upside, the first resistance level will lie at 1.3229. After that, it is recommended to pay attention to the resistance at 1.3247.
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The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
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