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
13.04.2026
- Japan: Money Supply
- Canada - Residential Building Permits
Last weekend, the Canadian dollar fell against the U.S. dollar despite the fact that Canada’s March employment report, released on the 10th, showed the unemployment rate remained unchanged from the previous month at 6.7% and the number of new jobs came in at 14,100—exceeding market expectations of 12,500.The USD/CAD pair rose from 1.3799 to 1.3843, with price action remaining within the range of the 20-period moving average (MA) on the hourly chart throughout the session. On the 4-hour chart, the price found support near the 200-period exponential moving average (EMA), while 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, with the euro gaining 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 (MA) continues, and on the daily chart, the pair has risen for five consecutive days, pushing the RSI 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 closely monitoring the potential for recovery in the Canadian dollar, which fell against the U.S. dollar following the employment report.
Author: Keisuke Sakurai
