Market participants are watching for signs of a potential rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures.
13.04.2026
- Japan: Money Supply
- Canada - Housing Construction Permit
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 new jobs 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 confined to the range around 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), while on the daily chart, the 200-period simple moving average (SMA) acted as a support level, leading to a rebound after five trading days.
European currencies rose against the U.S. dollar as 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 on the hourly Bollinger Bands. On the 4-hour chart, the uptrend along the 10-day moving average continues, and on the daily chart, the price has risen for five consecutive days. The RSI rose from 43 to 61.
Today’s key economic indicators include Japan’s money supply at 8:50 a.m., remarks by Bank of Japan Governor Ueda at 3:15 p.m., Canada’s housing starts at 9:30 p.m., remarks by MPC member Taylor at 10:00 p.m., U.S. existing home sales at 11:00 p.m., and remarks by Fed Governor Milan at 7:20 a.m. the following day.We will be watching for any potential recovery in the Canadian dollar against the US dollar following the employment report.
Author: Keisuke Sakurai
