USD/CAD in highs above 1.3400 ahead of data

The greenback is trading on a firmer fashion vs. its Canadian neighbor at the end of the week, taking USD/CAD to the area of 1.3420, or daily highs.

USD/CAD focus on US, Canada releases

The pair is extending its consolidation around the 1.3400 handle so far this week amidst a tepid pick up in the demand for the greenback and a continuation of the sell off in crude oil prices.

CAD weakness continues to be sustained by a persistent decline in crude oil prices, which has dragged the barrel of West Texas Intermediate back below the $45.00 mark.

Later in the NA session US Non-farm Payrolls are due followed by Canadian labour market figures and September’s trade balance results, all preceding speeches by Atlanta Fed D.Lockhart (2018 voter, centrist), L.Brainard (permanent voter, dovish), Dallas Fed R. Kaplan (2017 voter, neutral), Minneapolis Fed N.Kashkari (2017 voter, neutral) and S.Fischer (permanent voter, hawkish).

USD/CAD significant levels

As of writing the pair is up 0.16% at 1.3417 facing the next up barrier at 1.3433 (high Oct.28) followed by 1.3575 (50% Fibo of the 2016 drop) and finally 1.3839 (61.8% Fibo of the 2016 drop). On the other hand, a break below 1.3288 (20-day sma) would aim for 1.3158 (55-day sma) and then 1.3002 (low Oct.19).