- USD / CAD is trading in a tight range below 1.2700 on Friday.
- The DXY is recording small daily gains, it remains below 90.00.
Despite the relative strength of the dollar, USD / CAD closed virtually unchanged at 1.2680 / 90 on Thursday and is trading at that level, on the preview of important data.. The price is moving sideways in a narrow band on Friday.
Rising U.S. Treasury yields continue to provide a boost to the dollar. The US Dollar Index (DXY) advanced to its highest level in a week at 90.13 on Friday before returning to the 89.90 zone.
The loonie is supported by the crude oil rally that began on Mars. Backed by Saudi Arabia’s decision to voluntarily cut its oil production, a barrel of West Texas Intermediate touched its best level since late February at $ 51.31 on Friday.
Focus shifts to employment data
Later in the session, market participants will closely follow the US employment report with Non-Farm Payrolls (NFP). At the same time, at 13:30 GMT, the Canadian employment report will be published.
Technical levels
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