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Canada’s Ivey PMI and Employment Data: Impact on USD/CAD Outlook

Long
U.S. Dollar / Canadian Dollar (FX_IDC:USDCAD)  
signalmastermind  
FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
Beyond Technical Analysis Fundamental Analysis fxsignals forexsignal USDCAD usdcadlong usdcadanalysis usdcadbuy usdcadsignals
2
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beyondta fundamental fxsignals forexsignal usdcad usdcadlong usdcadanalysis usdcadbuy usdcadsignals
The USD/CAD pair faces headwinds due to a strengthening Canadian dollar fueled by rising crude oil prices. This week's release of April employment statistics and Canada's Ivey PMI will provide insights into inflation and economic trends. Additionally, Fedspeak from Thomas Barkin and John Williams will be monitored closely. Recent US data suggesting a cooling labor market could prompt Fed rate cuts, contrasting with expectations of a possible Bank of Canada policy shift in June. The article concludes with a bullish stance on USD/CAD, recommending long positions with entry at 1.36989 and targets up to 1.39110, with a stop-loss at 1.34875.

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