USD/CAD retreats from tops above 1.3000 on data

• The pair briefly clinched daily tops beyond 1.30 the figure.
• US NFP came in above estimates at 223K in May.
• Canadian manufacturing PMI next of relevance.

The greenback now trades on a firmer footing vs. its Canadian peer on Friday, briefly lifting USD/CAD beyond the psychological handle at 1.3000 the figure.

USD/CAD now focused on ISM

The pair is now adding to yesterday’s gains and trades around the psychological 1.3000 handle following releases in the US and Canadian dockets.

In fact, the greenback picked up extra pace after US Non-farm Payrolls showed the economy added more 223K jobs during May, more than initially estimated. Further positive data saw the jobless rate ticking lower to 3.8% (vs. 3.9% forecasted) and Average Hourly Earnings rose 0.3% MoM and 2.7% on a yearly basis, both prints also coming above expectations.

In Canada, RBC’s manufacturing PMI came in on the strong side, up to 56.2 vs. 55.4 from prior surveys and 55.5 from April.

USD/CAD significant levels

As of writing the index is up 0.08% at 1.2967 facing the next resistance at 1.3007 (high Jun.1) seconded by 1.3049 (high May 29) and finally 1.3126 (2018 high Mar.19). On the other hand, a break below 1.2828 (55-day sma) would open the door to 1.2816 (low May 31) and finally 1.2727 (3low May 11).