A combination of positive factors helped the USDCAD pair to recouped positive traction at the beginning of a new week and recover a part of Friday’s losses.

Oil is down by 1.2% on the day as price slumps to the $52 handle and that is keeping USDCAD hoisted regardless of another solid Canadian jobs data on Friday. Buyers stay in near term control and keep on looking poised as they knock on the door of the 1.33 handle in front of European trading.

US-China trade talks on Thursday and Friday in Beijing set to be the primary focus once again.
The decline on Friday after the jobs report saw the pair bolstered by the 100-day MA in what can be seen as a good area for buyers  to keep shielding the bullish bias. The upside momentum should stay intact as long as price holds over that.
Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.