Investors await July employment reports from both nations, keeping the currency pair rangebound with modest gains.
USD/CAD traded at 1.4020 on Friday, rising 0.06% as markets awaited key employment data from the US and Canada. The pair showed no clear direction, reflecting cautious investor sentiment ahead of the releases.
Prior to the reports, the pair had remained stable, with limited volatility in recent sessions. Analysts expect the data to provide clarity on economic momentum in both countries, influencing near-term monetary policy expectations.
Trading volumes were subdued, with participants avoiding large positions before the closely watched jobs figures.