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April, 4 - USD/CAD are entering battle zone

Tomorrow is an important day for two major currencies. Both Canada and USA are issuing their reports on unemployment rates in the countries. And the lower unemployment is, the better the economy is doing. The higher it is the more problems the country is facing in economic field. And even though we are only waiting for the reports we can already see what effects the anticipation has on the currencies. And it seems that CAD has all the possibility to fail right in front of the greenback.

 

usdcad 4.04.2019

 

Anticipation of the reports makes both of the currencies react but it seems that after all CAD is weaker that the greenback right now. The chart chows a clear growth of USD/CAD couple which means that CAD is getting weaker and weaker today.

 

Until the reports come we are left wondering about the future performance of the couple. That is why it is better to use your trading singles to be really sure what to do with USD/CAD next.

 

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