USD/CAD is sharply lower after losing 120 pips, declining as low as 1.3616.
Non Farm Payrolls data from United States will be released today at 12:30 UTC with analysts expecting a decline to 200,000. Potentially significant price fluctuations in US Dollar-Canadian Dollar are expected to follow.
Data for United States Initial Jobless Claims published yesterday at 12:30 UTC came out at 217,000, beating projections of 220,000 and showing improvement over the preceding figure of 218,000.
Amid the market gloom, United States ISM Non-Manufacturing PMI (Oct) released yesterday at 14:00 UTC with a figure of 54.4, while the previous figure was 56.7. Canada Building Permits came out at -17.5%, while a consensus of analysts was expecting -6.1%.
In the meantime, negative performances are seen in other pairs, USD/SGD is trading around 1.4139 (down 74 pips). EUR/AUD is down to 1.5361, losing 139 pips, after closing at 1.55 in the preceding trading session.
Positive performances can be seen by looking at other currencies as having closed the previous session at 0.6292, AUD/USD is up 1.36% today to currently trade at around 0.6378.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as Canada Employment Change expected to decline to 10,000 while its preceding data was 21,100, data will be available today at 12:30 UTC.
Some optimism can drawn from the fact that today at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 200,000 from the preceding figure of 263,000.
Furthermore, Canada Ivey PMI (Oct) will be released today at 14:00 UTC.
The past 3 months have been positive for US Dollar-Canadian Dollar as it added 7% compared to its 3-month low of 1.2387.