Forex trader eagerly await today’s NFP report out of the US. October’s data was soft, and earlier this week, the ADP private-sector employment report disappointed. Economic data out of the US has been soft all week, and the USDCAD entered a sell-off. Consumer confidence data will also be released, and consumer credit data will be anticipated as the holiday shopping season is underway. What impact will this have on price action? Follow the PaxForex Daily Forex Technical Analysis and grow your balance trade-by-trade.

The Canadian employment report will be released today as well. Canada’s central bank kept interest rates unchanged at 1.75% earlier this week. How will today’s employment data factor into the sell-off in the USDCAD? Will Canadian Dollar bulls receive a strong employment report and push this currency pair to the downside, or will bears get a chance to step in? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.