USD/CAD traded around C$1.4110 during Tuesday's European session, as the U.S. consumer price index due later that morning offered the next scheduled inflation reading for traders tracking the U.S. and Canadian currencies.
One U.S. dollar bought about C$1.4110. FXStreet reported a similar level in an update published at 3:32 a.m. ET (08:32 UTC), while ForexR's market table listed C$1.41103 at 2:15 a.m. ET (07:15 UTC).
USD/CAD states the number of Canadian dollars for one U.S. dollar.
The Bank of Canada’s indicative daily average, based on aggregated quotes, was C$1.4123 on Nov. 9, compared with C$1.4113 on Nov. 6. That daily figure provides a reference for the date and is separate from Tuesday’s intraday market quotes.
FXStreet's Tuesday chart analysis marked the upper edge of a descending channel around C$1.4140. It put the nine-day exponential moving average at C$1.4062 and the 50-day moving average at C$1.4056, with the 14-day relative strength index near 56. The cited market level sat above those averages but below the channel edge. The figures reflect FXStreet’s technical analysis.
The U.S. Bureau of Labor Statistics (BLS) said employers added 165,000 jobs in October, and the unemployment rate was 4.1%. Statistics Canada described its October employment reading as little changed: a decline of 4,700, equal to 0.0% month over month. The Canadian unemployment rate rose 0.2 percentage points to 6.7%.
The Federal Open Market Committee (FOMC) maintained the federal funds target range at 3.75% to 4.00% on Oct. 28. On the same date, the Bank of Canada lifted its overnight rate target by 25 basis points to 2.5%.
The BLS had scheduled the October CPI report for 8:30 a.m. ET Tuesday, Nov. 10. The Bank of Canada was due to publish a summary of its Oct. 28 deliberations at 1:30 p.m. ET.
