Forex: USD/CAD falls below after US and Canadian employment reports

FXstreet.com (San Francisco) - The US Dollar is trading lower right now against its Canadian counterpart following the employment reports in the United States and Canada. The USDCAD has lost 55 pips in the latest few minutes.

Currently the USDCAD is trading at 0.9880, 0.32% below opening price action. According the FXstreet.com's Trend Index, the pair is "Slightly Bearish". MACD, CCI and Momentum are showing buy opportunities in the 1-hour time frame.

US Non Farm Payrolls shattered forecasts at 146K (93K expected) but also saw a significant downward revision of the October figures from 171K to 138K. US unemployment dropped to 7.7% against expectations of 7.9%. Canadian unemployment rate declined to 7.2% against expectations of 7.4%.