USD/CAD Holds Steady Ahead of Crucial US Jobs Report

USD/CAD is trading sideways near the 1.3550 level as traders adopt a cautious stance before Friday's pivotal US Non-Farm Payrolls release. The pair has consolidated within a tight 30-pip range over the past 24 hours, reflecting market uncertainty about the Federal Reserve's next policy moves. Analysts expect the US economy to have added 185,000 jobs in August, with the unemployment rate holding at 4.3%. Any significant deviation from these forecasts could trigger substantial volatility in the dollar pairs. The Canadian dollar remains supported by steady oil prices around $68 per barrel and expectations that the Bank of Canada will maintain its current pause after aggressive rate hikes. Technical indicators suggest USD/CAD faces immediate resistance at 1.3580 and support at 1.3520. A strong jobs report exceeding 200,000 could propel the pair toward 1.3600, while disappointing data might see it test the 1.3500 psychological support.