Canadian dollar October 6, 2010
USD/CAD Canadian dollar breaks below 1.02 and trends towards USD/CAD 1.01 in this morning. Crude oil price in New York gained 1.06 1.7% to $82.82/barrel, and supported the overall sentiment 1.05 of CAD. Also, Canada and U.S. will announce job data in this Friday, and the unemployment rate in Canada (8.1%) is 1.04 expected to stay lower than U.S. (9.6%). 1.03 Technical. USD/CAD may test the next support at 1.01, and 1.02 may see further downside risk if breaking this support level.