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Canadian Dollar Declines After Weak Jobs Data

2024-06-26 1623

(fxcue news) - The Canadian dollar moved down against its major counterparts in the New York session on Friday, following the release of downbeat jobs data for June. Data from Statistics Canada showed that the employment fell by 1,400 jobs in June, after rising by 26,700 jobs in the previous month. Economists had expected employment to rise by 22,500 jobs. The unemployment rate increased to 6.4 percent in June from 6.2 percent in May. The rate was expected to rise to 6.3 percent. The loonie fell to more than a 1-year low of 0.9194 against the aussie, fresh 3-week low of 1.4769 against the euro and a 3-day low of 117.72 against the yen, off its early highs of 0.9145, 1.4712 and 118.54, respectively. The loonie touched a 2-day low of 1.3652 against the greenback, from an early 1-1/2-month high of 1.3602. The currency is seen finding support around 0.93 against the aussie, 1.50 against the euro, 110.00 against the yen and 1.38 against the greenback.

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Canadian Dollar Declines After Weak Jobs Data

German Factory Orders Fall Unexpectedly On Weak Foreign Demand

U.S. Dollar Extends Fall After Jobs Data

Dollar Weakens Against Major Counterparts After Jobs Data Fuels Rate Cut Bets

Canadian Market Modestly Lower At Noon After Jobs Data

Swiss Franc Slides Against Majors

Swiss Market Ends Moderately Lower

Canadian Dollar Declines After Weak Jobs Data

European Shares To Open On Mixed Note As EV Tariffs Take Effect

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Trader

Gold operation strategy: Short sell gold at the 2648-53 line, stop loss at 2658, target at the 2612-2618 line, break below the 2606-2600 line;

Gold Strategy: 2645-2650 Short Selling Stop Loss 2658 Target 2630

Considering the rebound of crude oil operations today, short selling is the priority, with buying long at low prices as a supplement. Focus on resistance at $68.6-69.2 above and support at $67.0-66.0 below.

Sell directly near gold 2639, targeting 2622-2615-2606; If short selling is done in batches at three points: 2644, 2647, and 2654; If you buy more around 2622, 2615, and 2606 for the first time;

Spot silver can be bought long at the position of 30.2 today, with a stop loss set at 30. The target is first to look at 30.5 and 30.7, and if a break can be achieved, the target can be further focused on 30.9 and 31.2.

Spot gold trading recommendation for today's operation is to short one near 2650-2648, with a stop loss of 2656 and a target of 2640-2635. Buy one more time on the first retracement of 2620-2622, stop loss at 2615, target around 2635-2645.

Profit from gold trading

Profit from selling foreign exchange gold orders

Sell directly near gold 2630, targeting 2616-2608-2598; If sold in batches at four o'clock on 2633, 2637, 2642, and 2650; If it is given around 2616, 2608, and 2598 for the first time, it can be bought;

Gold intraday strategy: Buy near 2626-2629 Stop loss 2620 Target 2645

Tags

Canadian Dollar Declines After Weak Jobs Data

German Factory Orders Fall Unexpectedly On Weak Foreign Demand

U.S. Dollar Extends Fall After Jobs Data

Dollar Weakens Against Major Counterparts After Jobs Data Fuels Rate Cut Bets

Canadian Market Modestly Lower At Noon After Jobs Data

Swiss Franc Slides Against Majors

Swiss Market Ends Moderately Lower

Canadian Dollar Declines After Weak Jobs Data

European Shares To Open On Mixed Note As EV Tariffs Take Effect

Please sign in

Trader

Gold operation strategy: Short sell gold at the 2648-53 line, stop loss at 2658, target at the 2612-2618 line, break below the 2606-2600 line;

Gold Strategy: 2645-2650 Short Selling Stop Loss 2658 Target 2630

Considering the rebound of crude oil operations today, short selling is the priority, with buying long at low prices as a supplement. Focus on resistance at $68.6-69.2 above and support at $67.0-66.0 below.

Sell directly near gold 2639, targeting 2622-2615-2606; If short selling is done in batches at three points: 2644, 2647, and 2654; If you buy more around 2622, 2615, and 2606 for the first time;

Spot silver can be bought long at the position of 30.2 today, with a stop loss set at 30. The target is first to look at 30.5 and 30.7, and if a break can be achieved, the target can be further focused on 30.9 and 31.2.

Spot gold trading recommendation for today's operation is to short one near 2650-2648, with a stop loss of 2656 and a target of 2640-2635. Buy one more time on the first retracement of 2620-2622, stop loss at 2615, target around 2635-2645.

Profit from gold trading

Profit from selling foreign exchange gold orders

Sell directly near gold 2630, targeting 2616-2608-2598; If sold in batches at four o'clock on 2633, 2637, 2642, and 2650; If it is given around 2616, 2608, and 2598 for the first time, it can be bought;

Gold intraday strategy: Buy near 2626-2629 Stop loss 2620 Target 2645

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