The U.S. dollar strengthened against the Canadian dollar and rose to fresh five-year highs on Monday, as demand for the greenback remained broadly supported after official data on Friday showed that the number of employed people declined by 4,300 last month, confounding expectations for a 15,000 rise. Canada’s unemployment rate remained unchanged at 6.6% in December, in line with expectations.

A separate report showed that Canada’s building permits dropped by 13.8% in November, compared to expectations for a 1.0% rise.


Technical Analysis:

Intra day bias remains bullish with 21 and 55 EMA crossed to the upside. Also SSRC, RSI and MACD oscillators indicates bullish momentum is still intact. Am expecting more rise to 1.2000 psychological zones.

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