USD/CAD plummets to 1.3340 post-jobs data

The Canadian Dollar met a ave of buying pressure following the jobs report today, sending USD/CAD to test fresh daily lows in the 1.3340 region.

USD/CAD weaker as NFP disappoints

Spot shed almost a cent after US Non-farm Payrolls showed the economy added just 89K jobs during last month vs. 180K initially estimated, missing initial forecasts. On the brighter side, the jobless rate dropped to 4.5% and Average Hourly Earnings gained 0.2% on a monthly basis.

In Canada, the Employment Change rose more than expected by 19.4K and the jobless rate stayed put at 6.7%, matching consensus.

USD/CAD significant levels

As of writing the pair is losing 0.33% at 1.3369 and a break below 1.3343 (low Apr.7) would aim for 1.3319 (38.2% Fibo of the 2017 upside) and finally 1.3290 (100-day sma). On the flip side, the next resistance aligns at 1.3452 (high Apr.6) followed by 1.3457 (high Apr.4) and then 1.3496 (high Mar.14).