Just like its southern neighbor Canada is set to release its employment stats for October on Friday, one hour before the US. Estimates call for the creation of 13,500 jobs while the unemployment rate is expected to increase from 6.9% to 7.0%.
I think traders may want to watch out for the USDCAD on Friday as a positive read out of Canada followed by a negative surprise from the US could create a powerful move. Regardless of which report will surprise or disappoint we should see some great trading opportunities in the Canadian Dollar.