FxWirePro: USD/CAD rises ahead of key U.S. and Canadian employment reports

• USD/CAD advanced on Thursday as investors awaited upcoming U.S. and Canadian jobs data, which could influence Fed and BoC interest-rate decisions.

•Canada and the U.S. are set to release August employment reports on Friday, which could play a pivotal role in shaping the central banks' policy decisions.

• Investors will also monitor Canada’s unemployment data on Friday for insights into the Bank of Canada’s potential rate-cut decisions later this month.

•Meanwile, Economists forecast that Canada’s economy added 10,000 jobs in the latest month, while the unemployment rate rose to 7% from 6.9% in the previous month.

•  Friday’s U.S. non-farm payrolls report is forecast to show 78,000 jobs added in August, up from 73,000 in July, according to a Reuters poll.

• Data on Thursday showed that Canada’s trade deficit narrowed in July as overall exports increased. Meanwhile, separate U.S. data revealed private payrolls rose less than expected in August, and weekly jobless claims came in higher than anticipated.

• Immediate resistance is located at 1.3857(50%fib), any close above will push the pair towards 1.3902(Higher BB).

• Support is seen at 1.3807(SMA 20) and break below could take the pair towards 1.3723(38.2%fib).

Recommendation: Good to buy around 1.3820, with stop loss of 1.3750 and target price of 1.3900