The Canadian dollar matches one American one. The strengthening of the loonie came as a reaction to a great housing report in Canada, and surprisingly not on important employment figures in both countries. Canadian employment figures leaped by 15.3% – five times the early expectations that stood on a small rise of 3%. This figure was released at 12:30 GMT, the same time as the Non-Farm Payrolls were released in the US. Non-Farm Payrolls surprised with a gain of 151K jobs, far better than expected. EUR/USD, GBP/USD dropped on this greenback positive news, but the Canadian dollar leaped. The building permits overcame US strength – USD/CAD dropped from 1.0070 to 1.0000 after the release. USD/CAD parity is with us once again. Earlier today, mixed employment figures shook the Canadian dollar- on one hand, only 3,00 jobs were gained in Canada, weaker than a gain of 14,000 that was expected. But on the other hand, the unemployment rate unexpectedly dropped from 8% to 7.9%. The reaction in USD/CAD was limited choppy trading. The big move came after the building permits were released. It’s also important to note that oil prices are on the rise – a rise that began after the announcement of quantitative easing in the US – which gave a boost to commodities. As an exporter of oil, Canada and the Canadian dollar enjoy the rising price of oil. USD/CAD levels below parity are 0.9930 (the 2010 low), 0.98 and 0.97 (levels from 2008). Above, 1.01, 1.02 and 1.0350 will resist a stronger US dollar. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next [Video] QE2 Long Term Effect on EUR/USD, Central Banks’ Yohay Elam 12 years The Canadian dollar matches one American one. The strengthening of the loonie came as a reaction to a great housing report in Canada, and surprisingly not on important employment figures in both countries. Canadian employment figures leaped by 15.3% - five times the early expectations that stood on a small rise of 3%. This figure was released at 12:30 GMT, the same time as the Non-Farm Payrolls were released in the US. Non-Farm Payrolls surprised with a gain of 151K jobs, far better than expected. EUR/USD, GBP/USD dropped on this greenback positive news, but the Canadian dollar leaped. The building… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
