FxWirePro: USD/CAD dips as market assessed U.S. and Canadian data alongside trade deal developments

• USD/CAD dipped on Thursday  as market  assessed domestic and U.S. economic data, while a U.S.-Vietnam trade pact renewed optimism around global trade deals ahead of the July 9 tariff deadline.

•A preliminary trade deal between the U.S. and Vietnam offered a boost to market sentiment and helped support prices across risk assets.

•Several key U.S. trading partners   including the European Union and Japan   have yet to finalize agreements with Washington.

•   On the data front, Canada recorded a trade deficit of C$5.90 billion ($4.34 billion) in May, as a rise in exports was overshadowed by a larger increase in imports, Statistics Canada reported on Thursday.

• US Nonfarm payrolls increased by 147,000 jobs in June, after rising 144,000 in May, the Labor Department showed on Thursday.

• Immediate resistance is located at 1.3670(SMA 20), any close above will push the pair towards 1.3764(38.2%fib).

• Support is seen at 1.3543(23.6%fib) and breakbelow could take the pair towards 1.3510(Lower BB).

Recommendation: Good to sell around 1.3620, with stop loss of 1.3700 and target price of 1.3540