Currency – The USD/CAD is lower, in the beginning of the session


© Reuters. The USD/CAD is lower, in the beginning of the session

Investing.com – The u.s. dollar declined against its canadian counterpart on Thursday, despite figures published, while investors remain cautious in view of the announcement of the tax reform.

The USD/CAD gives up 0.17% at 1.2843 at 09:30 a. m. AND (13:00 GMT).

In a report, the Department of Labor has indicated that the number of individuals having recourse to unemployment assistance during the week leading up to October 28, had decreased from 5000 to 229.000, since 234.000 last week.

The greenback is under pressure as the u.s. lawmakers are expected to announce their plan to reform taxation.

The american president Donald Trump is considering to nominate Jerome Powell to head the Federal Reserve during an official announcement at 3:00PM AND (1900GMT). Powell is perceived as less falcon that the economist John Taylor, the other candidate to lead the Fed.

The Fed has maintained its interest rates unchanged Wednesday, as expected, but the forecasts of a rate hike in December have been strengthened, while the representatives of the central bank noted that economic growth “solid” and a tightening of the job market.

The loonie was steady against the euro, with EUR/CAD at 1.4948.

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