• USD/CAD traded little changed on Thursday as investors assessed latest U.S. tariff threats and awaited signs of progress on trade talks.
•U.S. President Trump on Wednesday unveiled a 50% tariff on copper, effective August 1, and threatened similar levies on Brazilian exports. He also issued tariff notices to seven additional minor trading partners.
• Canada is working toward finalizing a trade agreement with the United States by the self-imposed deadline of July 21. However, officials have indicated that if no deal is reached by then, Canada is prepared to respond with counter-duties on U.S. goods.
• Meanwhile, Canada is in the final stages of negotiating a free trade agreement with Southeast Asian nations, aiming to diversify its trade portfolio and reduce reliance on traditional partners by tapping into fast-growing emerging markets.
• Investors will also closely assess Friday's Canadian jobs data to gauge how the economy is holding up under tariff-related pressures.
. •Friday’s Canadian employment data will be in focus as markets assess the impact of trade tensions on economic performance.
• Immediate resistance is located at 1.3725(38.2%fib), any close above will push the pair towards 1.3801(Higher BB).
• Support is seen at 1.3561(23.6%fib) and break below could take the pair towards 1.3531(Lower BB).
Recommendation: Good to buy around 1.3690, with stop loss of 1.3620 and target price of 1.3750
