Loonie Trading Flat ahead of Canadian Unemployment Report

Loonie Trading Flat ahead of Canadian Unemployment Report

For the 24 hours to 23:00 GMT, the USD rose 0.27% against the CAD to close at 0.9884, after the minutes from the US Federal Reserve's latest policy meeting revealed that it may end monetary stimulus as early as this year.

In the Asian session, at GMT0400, the pair is trading at 0.9886, with the USD trading flat from yesterday's close.

The pair is expected to find support at 0.9854, and a fall through could take it to the next support level of 0.9822. The pair is expected to find its first resistance at 0.9907, and a rise through could take it to the next resistance level of 0.9929.

The release of the unemployment report in Canada is likely to set the tone for the Loonie in today's trading session.