USD/CAD maintains its upward momentum, trading at approximately 1.3870 during the Asian session on Friday. The currency pair has been buoyed by declining oil prices, which have weighed on the Canadian dollar. As traders monitor the exchange rate closely, the focus now shifts to the upcoming US Nonfarm Payrolls (NFP) report, anticipated to provide crucial insights into the labor market and inform the Federal Reserve's monetary policy direction.
The NFP data could significantly impact market sentiment, influencing USD/CAD's trajectory. A robust jobs report may strengthen the US dollar further, while weaker employment figures could lead to volatility in the currency pair. As the Fed's policy outlook is closely tied to labor market conditions, traders are keenly awaiting the NFP release to gauge potential shifts in the exchange rate dynamics.
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Data Source: FX Killer Analysis Team Updated: 2026-01-09 08:30
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.