USDCAD Forecast Ahead of Canadian Employment Change (Sept) !

Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending.

Usual Effect: A high reading or a better than expected number is seen as positive for the CAD, while a low reading is negative.

Frequency : Released monthly, about 8 days after the month ends.

Last Read : – 11.0 K

Expectations : 20.0 K

Actual : ?

Volatility :   High Volatility .

Market Impact :

We have 3 Scenarios for the CAD : 

  • Scenario 1 : A reading between (-11 K  : 30 K ) , will bring sideways move with possible to break one level up or down.
  • Scenario 2 : A reading above 30  K , will bring bullish move for the CAD , could break 1 or 2 levels higher .
  • Scenario 3 : A reading below  -11 K, will bring bearish move for the CAD , could break 1 or 2 support levels ..

USDCAD :

Trend direction : Upwards (Pullback Mode ) .

Support and resistance : 1.1025 , 1.1075 , 1.1125 , 1.1155 , 1.1215  , 1.1245 , 1.1290 , 1.1340

Market Impact on USDCAD :

  • Scenario 1# : Between   (-11 K  : 30 K )  , will bring sideways move for the USDCAD within support and resistance range , with a chance to break 1 level up or down !
  • Scenario 2# :Above 30 K , will bring bearish move for the USDCAD ,1 or 2 support levels could be lost !
  • Scenario 3# : Below -11 K , will bring bullish move for the USDCAD  , 1 or 2 resistance levels could be taken out !

 

It will be published today at 12:30 GMT

MARKET DATA

UPCOMING ECONOMIC EVENTS