The USD/CAD pair extended its drop on Friday to reach the lowest level in three and a half years, as rising oil prices pushed the USD/CAD pair to the downside, however, the USD/CAD pair rebounded slightly to the upside after a mixed jobs report from Canada, where Canadian companies shed 1.5 thousand jobs in March, nevertheless, the unemployment rate dropped to 7.7 percent in line with expectations.
The economic calendar is empty on Monday from both the U.S. economy and the Canadian economy, and accordingly, we should expect calm trading to dominate the USD/CAD pair’s movement, while oil prices will probably shape the pair’s overall movement.
Originally posted here
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