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Friday, June 5th
USD/CAD was growing yesterday hitting the session’s highs of 1.2503 over the upbeat U.S. data. The U.S. Department of Labor reported the number of individuals claiming initial jobless benefits declined by 8,000 to 276,000. USD/CAD is trading at 1.2517. Investors are looking for Non-Farm Payrolls later in the day.
The U.S. dollar index, which measures the greenback’s strength against the basket of major currencies, held steady at 95.47.
The euro was falling during the Asian session earlier today after Greece delayed its debt payment to IMF. It was the first time in five years of Greek crisis that the government postponed the payment to its creditors. EUR was down 0.28% today, currently trading at 1.1246 against the U.S. dollar.
The yen was weaker today over yesterday’s strong data from the U.S. and today’s mixed data from Japan. USD/JPY is changing hands at 124.68. The pair is likely to find support at 123.45 and resistance at 125.61.
Yesterday, the Halifax House Price Index (YoY) was out higher than expected in the U.K. and the interest rate was left unchanged. However, the cable was falling today and is currently trading at 1.5317 against the greenback.
Ahead in the day, the markets are viewing the euro zone’s GDP, American Non-Farm Payrolls and Unemployment rate as well as the Unemployment Change in Canada in May.
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