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Will the employment report bring any changes? Should we focus on the strength or weakness of the Canadian dollar?

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Will the employment report bring any changes? Should we focus on the strength or weakness of the Canadian dollar?

09.01.2026

Today's Highlights
  1. Canada: Employment Statistics
  2. Germany: Industrial Production

In the U.S. currency market yesterday, the Canadian dollar traded in a narrow range against the yen ahead of today’s employment report. The CAD/JPY pair fluctuated between 112.747 and 113.381. On the hourly chart, the price moved from the -2σ to the +2σ Bollinger Bands.On the 4-hour chart, prices are trending upward while finding support at the 200-SMA, and on the daily chart, the pair is currently attempting to recover the 20-MA, which it had previously broken below.

Among European currencies, the pound fell against the yen. The GBP/JPY pair dropped from 211.154 to 210.295. It declined as the 200-period SMA on the hourly chart acted as resistance.On the 4-hour chart, the candlesticks have fallen to the 75-period moving average, while on the daily chart, the 10-period moving average has acted as a support level, causing the price to reverse. Additionally, during today’s Asian trading session, the price surpassed yesterday’s high, rising to the mid-211 yen range.

Today’s schedule includes the Japan Household Expenditure Survey at 8:30, the Japan Economic Sentiment Index at 14:00, Germany’s Industrial Production and Trade Balance at 16:00, and France’sIndustrial Production, France’s Manufacturing Production Index, and France’s Consumer Spending; at 17:00, Switzerland’s Unemployment Rate; at 19:00, Eurozone Retail Sales; at 22:30, U.S. Housing Starts, Canada’s Employment Statistics, and U.S. Employment Statistics;at 24:00: U.S. University of Michigan Consumer Sentiment Index, remarks by Kashkari, President of the Minneapolis Fed; and at 27:35: remarks by Barkin, President of the Richmond Fed. I’ll be watching to see if the employment report brings any changes and how this affects the strength or weakness of the Canadian dollar.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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