RTTN:Canadian Dollar Strengthens Ahead Of U.S. Jobs Data
The Canadian dollar firmed against most major currencies in European deals on Tuesday, as traders await the U.S. jobs data for September due today.
Economists call for an increase of 180,000 jobs in September following an addition of 169,000 jobs in the previous month. Unemployment rate is forecast to stay unchanged at 7.3 percent.
The report has been postponed from October 4 due to the government shutdown.
The data is closely watched as it guides the Fed's course of action, though the central bank is expected to maintain its stimulus program this year given the impact of the U.S. debt crisis.
The loonie climbed to 95.60 against the yen, its strongest level since October 17. This is up by 0.3 percent from Monday's close of 95.29. The loonie may possibly face resistance around the 96.5 area.
The loonie advanced to 1.4069 against the euro, reversing from an early Asian session's multi-day low of 1.4100. The loonie is likely to eye resistance at the 1.40 level.
The loonie reached as high as 1.0290 against the greenback, off early 5-day low of 1.0311. On the upside, the loonie may test resistance around the 1.02 zone.
Canada retail sales figures for August are in focus in the New York session.
