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Market Participants May Be Watching for Signs of a Recovery in the Canadian Dollar, Which Fell Against the U.S. Dollar Following the Employment Report

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Market Participants May Keep a Close Eye on the Canadian Dollar’s Potential for Recovery After Its Decline Against the U.S. Dollar Following the Employment Report

13.04.2026

Today's Highlights
  1. Japan: Money Supply
  2. Canada - Housing Construction Permits

Last weekend, the Canadian dollar fell against the U.S. dollar despite the March Canadian employment report released on the 10th showing that the unemployment rate remained unchanged from the previous month at 6.7% and that the number of employed persons came in at 14,100—exceeding the market forecast of 12,500.The USD/CAD pair rose from 1.3799 to 1.3843. Price action remained within the range of the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, prices found support near the 200-period exponential moving average (EMA), and on the daily chart, the 200-period simple moving average (SMA) acted as a support level, leading to a rebound for the first time in five business days.

European currencies rose as the euro strengthened against the U.S. dollar after the final figures for Germany’s Harmonized Index of Consumer Prices (HICP), released on the 10th, came in line with market expectations for both year-over-year and month-over-month changes.The euro rose against the U.S. dollar from 1.1677 to 1.1739. The price moved from the -2σ to the +3σ levels of the hourly Bollinger Bands. On the 4-hour chart, the uptrend along the 10-period moving average (10MA) continues, and on the daily chart, the euro has risen for five consecutive days. The RSI rose from 43 to 61.

Today’s economic indicators include Japan’s money supply at 8:50, remarks by Bank of Japan Governor Ueda at 15:15, Canada’s housing permits at 21:30,at 10:00 p.m., remarks by MPC Member Taylor (UK); at 11:00 p.m., U.S. Existing Home Sales; and at 7:20 a.m. the following day, remarks by Fed Governor Milan (U.S.). We will be watching closely for any potential recovery in the Canadian dollar against the U.S. dollar following its decline after the employment report.

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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