USD/CAD Holds Steady Despite Strong US Employment Data

USD/CAD remained unchanged near 1.3650 despite robust US employment figures that typically strengthen the dollar. The US Non-Farm Payrolls exceeded expectations, yet the pair showed minimal reaction, suggesting underlying Canadian dollar strength or market positioning ahead of key events. The muted response indicates traders may be factoring in potential Federal Reserve policy shifts or awaiting Canadian economic data. Technical indicators show USD/CAD consolidating within a tight range between 1.3620 support and 1.3680 resistance. The lack of momentum despite positive US data suggests the pair may be reaching equilibrium levels. Traders should monitor upcoming Canadian employment data and oil price movements, which significantly influence CAD strength. The unusual market reaction to strong US jobs data could signal a potential shift in USD/CAD dynamics, warranting careful position management around current levels.