The Canadian dollar dropped to new lows against the greenback and got close to the critical resistance level of 1.1278 – the peak seen in March. Beyond this level, we are back to the highs seen in July 2009. The high so far is 1.1270, but after the pair retreated, a big breakout might have to wait for next week as trading volumes are dwindling down. But a last minute can also happen. On the way up, USD/CAD broke above the previous 2014 peak of 1.1225 and left it well behind. The trigger was the excellent Non-Farm Payrolls report. The US gained 248K jobs and nice revisions added to the mix. The headline of an unemployment rate of only 5.9% was certainly good news for the US as well, even if it came on the background of a drop in the participation rate. Canada publishes its jobs report next week. In Canada, the trade balance totally disappointed, as the nation recorded a deficit of 0.6 billion instead of a surplus of 1.5 billion expected. In the previous month, Canada enjoyed a surplus of 2.2 billion. The US trade balance stood on 40.1 billion USD, and that was better than expected. Here is how the move looks on the chart: 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 AUD/USD loses the double bottom – lowest since 2010 Yohay Elam 8 years The Canadian dollar dropped to new lows against the greenback and got close to the critical resistance level of 1.1278 - the peak seen in March. Beyond this level, we are back to the highs seen in July 2009. The high so far is 1.1270, but after the pair retreated, a big breakout might have to wait for next week as trading volumes are dwindling down. But a last minute can also happen. On the way up, USD/CAD broke above the previous 2014 peak of 1.1225 and left it well behind. The trigger was the excellent Non-Farm Payrolls report. The… 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.