US and Canada Jobs Data, Eurozone’s Inflation Under Investors’ Radar

Equities Keep Sliding Ahead of NFPs, CAN Jobs and EZ CPIs Also in Focus

The US dollar traded slightly higher against most of the other major currencies on Thursday and during the Asian morning Friday. It gained against CHF, AUD, and slightly against JPY and EUR, while it was found virtually unchanged against NZD. The greenback underperformed notably against CAD, and slightly against GBP.

EUR/USD — Technical Outlook

EUR/USD traded slightly lower yesterday, after it hit resistance at 1.1335, but today, it hit support slightly above 1.1275, and then, it rebounded somewhat. Overall, the rate stubbornly remains within the sideways range between the 1.1233 and 1.1375 barriers, but, in the bigger picture, it is also below the downside resistance line taken from the high of May 25th. Therefore, we see more chances for a downside exit out of the range, rather than an upside one.

AUD/CAD — Technical Outlook

AUD/CAD has been in a free fall mode since Wednesday, when it hit resistance at 0.9240. Yesterday, it broke below the upside support line taken from the low of December 3rd, and then, below Monday’s low, at 0.9155. In our view, those breaks have signaled a short-term bearish reversal.

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