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    Canada employment dropped -2.2k, missed expectation, USD/CAD rebound

    ActionForex
    By ActionForex

    Canada employment contracted -2.2k in June, below expectation of 10.0k. Unemployment rate rose to 5.5%, up from 5.4% but matched expectations.

    USD/CAD rebounds strongly with the contrast in today’s job data from US and Canada. Focus is back on 1.3145 minor resistance immediately. Break will suggest that 1.3052/68 cluster support zone is defended for now. And a short term bottom is formed at 1.3037. Further rise could be then be seen back to 1.3239 support turned resistance next.

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