- USD/CAD fluctuates near 1.4300 ahead of February's US/Canada employment data.
- President Trump eases tariffs on select imports from Canada and Mexico.
- The US Dollar Index hits a four-month low around 103.60.
USD/CAD remains range-bound around 1.4300 during Friday’s European session as investors await February employment data from both the US and Canada. The US NFP report is expected to show job growth of 160K, up from 143K in January, with the unemployment rate steady at 4%. In Canada, analysts predict 20K new jobs, significantly lower than January’s 76K, while the unemployment rate is expected to rise to 6.7% from 6.6%.
Despite US President Donald Trump granting tariff exemptions on various products under the USMCA agreement, the Canadian Dollar (CAD) remains steady against the US Dollar (USD). Meanwhile, the US Dollar Index (DXY) extends its decline, hitting a four-month low near 103.60.
Technically, USD/CAD trades within Thursday’s range, staying above the 100-period EMA at 1.4200, signaling a bullish trend. The 14-period RSI fluctuates between 40.00-60.00, indicating a neutral outlook. A break above the February 9 high of 1.4380 could push the pair toward 1.4400 and the key resistance at 1.4500. Conversely, a drop below the February 14 low of 1.4151 may lead to further declines toward the December 9 low of 1.4094 and December 6 low of 1.4020.
USD/CAD daily chart
