Canadian Dollar Stable After Domestic Economic Releases

The Canadian dollar was stable today following economic releases over the current trading session and ahead of important economic reports due to release tomorrow.

Automatic Data Processing reported that Canada’s employment rose by 30,198 in April, while the March increase got a significant positive revision from 42,800 to 59,300. According to Statistics Canada, foreign investment in Canadian securities was at C$6.15 billion in March, up from C$4.32 billion in February and exceeding the analysts’ median projection of C$3.00 billion. As for tomorrow’s data, traders will closely watch retail sales and inflation reports.

USD/CAD edged up from 1.2788 to 1.2806 as of 19:48 GMT today. EUR/CAD was close to its opening level of 1.5097.

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