USD/CAD may push higher towards 1.3030/3100 – OCBC

USD/CAD extends recovery above 1.30. Economists at OCBC Bank believe that the pair could enjoy further gains to the 1.3030/3100 area.

Eyes on Canadian Employment report

“While the CAD shall benefit from a hawkish BoC, the near term movement is primarily dollar-driven; current risk rally may push the pair higher towards 1.3030/3100, while support sits at 1.2919.” 

“Domestically, there is the labour market report on Friday, the key release ahead of next week’s MPC meeting.”

See – Canadian Jobs Preview: Forecasts from five major banks, fairly moderate employment growth in June