USDCAD appears dicey ahead of US, Canada employment data

The risk appetite remains slightly positive despite the market‘s anxiety ahead of the US and Canadian employment report for October. That being said, receding fears from Gaza join downbeat yields and fresh concerns suggesting no more rate hikes from the Fed in 2023 to weigh on the US Dollar, especially amid the recently mixed data and the Fed’s lack of hawkishness.

USDCAD appears the most inactive among the major currency pairs even as the firmer Crude Oil joins the broadly softer US Dollar. That said, the Gold Price recovers while NZDUSD leads the G10 winners versus the Greenback. Further, the EURUSD and GBPUSD are also in recovery mode amid the latest hawkish comments from the European Central Bank (ECB) and the Bank of England (BoE) officials.

Wall Street closed on the positive side and helped the US stock futures to edge higher, especially when Apple shares cheered upbeat earnings. That said, the Asia-Pacific shares are also mildly bid while joining the commodities and Antipodeans.

Elsewhere, BTCUSD drops more than ETHUSD even as crypto traders appear losing faith in ETF approvals. The reason could be spotted in a slew of Ethereum deposits.

Following are the latest moves of the key assets:

• Brent oil extends the previous days rebound from 100-DMA above $88.00, up 0.40% intraday by the press time.

• Gold price prints a two-day uptrend near $1,988, up 0.10% intraday at the latest.

• USD Index dropped 0.10% intraday to 106.10, printing the second daily loss in four.

• Wall Street closed positive and so did the Asia-Pacific stocks. However, equities in Europe and the UK begin the day on a dicey floor.

• BTCUSD and ETHUSD both pare recent gains around $34,500 and $1,800 as we write.