• USD/CAD rebounded strongly on Thursday as signs of faster U.S. job growth in September suggest the Federal Reserve is likely to pause cutting interest rates in December.
• Long-awaited data released on Thursday showed that employers added more jobs than economists had expected, but the unemployment rate rose..
• Nonfarm payrolls increased by 119,000 jobs after a downwardly revised drop of 4,000 in August, the Labor Department's Bureau of Labor Statistics said..
• Domestic data had minimal market impact. Canadian producer prices increased 1.5% in October from September, driven by higher prices for primary non-ferrous metals and lumber products, while annual inflation in producer prices rose 6%..
• Canada’s September retail sales data is due Friday, with analysts forecasting a 0.7% decline following a 1% increase in August.
• Immediate resistance is located at 1.427(23.6%fib), any close above will push the pair towards 1.4152(Higher BB).
• Support is seen at 1.4033 (SMA20) and break below could take the pair towards 1.3973(38.2%fib).
Recommendation: Good to buy around 1.4080, with stop loss of 1.4000 and target price of 1.4150
