The USDCAD advanced on Friday with limited upside, as competing jobs reports kept the pair stable in the mid-1.25 region.
The USDCAD climbed 0.3 percent to 1.2544 after reaching a daily high of 1.2563. The pair is testing the June 2 high of 1.2537. A close above that level would target the psychological 1.26 level. On the downside, immediate support is located at 1.2456.
The United States and Canada released official jobs numbers on Friday. Below is a breakdown of the releases:
- Nonfarm Payrolls (May): 280,000
- Unemployment Rate (May): 5.5%
- Average Hourly Earnings (YoY) (May): 2.3%
- Participation Rate: 62.9%
- Net Change in Employment: 58,900
- Unemployment Rate: 6.8%
- Participation Rate: 65.9%