CAD review

Western Union:

The loonie wavered between C$1.24 and C$1.25, losing some of its positive momentum from the rebounding greenback and caution ahead of Canada's jobs report on Friday. 

Perhaps setting the stage for a disappointing jobs report, Canada's Ivey business activity PMI on Monday contracted for a third month in a row in March, falling to 47.9 from 49.7 in February while the jobs component of the index fell to its weakest since August 2013. 

Zero net job growth is on the cards for Friday's employment report. Unemployment is expected to remain 6.8 percent.