We’re told by a friend with a high-priced Bloomberg terminal that Canadian finance minister Flaherty says tomorrow’s employment report will be discouraging.
USD/CAD has been firming this afternoon as risk aversion ticked up after the FOMC minutes. 1.2400 is solid resistance near-term. We trade now at 1.2380.
Canada is expected to lose 54k jobs for the Month of March after losing nearly 85K in February.