The USDCAD pair takes the bids to refresh intraday high near 1.2530, up 0.1% daily during early Friday as the Loonie pair cheers downbeat prices of Canada’s key export item, WTI crude oil, amid risk-aversion.
The mixed US data weighed on the US Treasury yields and allowed the US Dollar to consolidate the recent gains on Thursday. The US Jobless Claims jumped to the highest since late October and the Philadelphia Fed Manufacturing Survey details also improved for January. On the other hand, Canada’s ADP Employment Change slumped below 102.1K downwardly revised prior to 19.2K in December but Employment Insurance Beneficiaries Change for November improved to -6.7% MoM versus -42.1% prior.
Looking forward for today, Canada Retail Sales for November, expected 1.2% versus 1.6% MoM, will be crucial for the USD/CAD prices amid a light calendar elsewhere. However, the pre-Fed notion and softer oil prices can keep the pair directed towards the north.
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