Canadian Dollar (CAD), Daily Review, Feb 5 2010

By @ibtimes on

Canada's dollar dropped against the dollar as an unexpected increase in U.S. jobless claims and Europe's deficit troubles led to collapsing in commodity and equities prices. The Ivey PMI came out 50.8 worse than expected 52. Breaching the 1.0750 level can continue to weak the Canadian dollar. Overall, USD/CAD traded with a low of 1.0596 and a high of 1.0751. Today, The Employment Change is expected at 15K vs. -2.6K previously and The Unemployment Rate is expected unchanged at 8.5%.

USD/CAD - Last: 1.0725

Resistance

1.0750

1.0780

1.0800

Support

1.0645

1.0600

1.0575

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