USD/CAD keeps highs near 1.3250, NFP eyed

The greenback keeps a firmer note at the end of the week, taking USD/CAD to the mid-1.3200s for the time being, or session tops.

USD/CAD focus on data, oil

CAD seems to have decoupled from its usual correlation with crude oil prices, as it has remained quite apathetic in light of the recent upside of the barrel of West Texas Intermediate to fresh highs above the psychological $50.00 mark.

USD/CAD is now paying more attention to the spread differential in US-CA yields, particularly in the shorter end of the curve, which so far remain USD-supportive against the backdrop of divergent monetary policy.

Later in the NA session, US Non-farm Payrolls as well as Canadian labour market figures will take centre stage followed by the Business Outlook Survey by the BoC and speeches by FOMC’s S.Fischer, L.Mester, E.George and BoC’s Senior Deputy Governor C.Wilkins.

USD/CAD significant levels

As of writing the pair is up 0.19% at 1.3240 facing the next resistance at 1.3276 (high Sep.27) ahead of 1.3311 (38.2% Fibo of the 2016 drop) and finally 1.3575 (50% Fibo of the 2016 drop). On the other hand, a breach of 1.3211 (200-day sma) would open the door to 1.2996 (low Sep.22) and then 1.2818 (low Sep.7).