US Continuing Jobless Claims (Apr 27): 3.005M vs 3.032M

The USD/CAD has rebounded nicely outside a trough created during the European session, which effectively bottomed out at 1.0012 (intraday low). With this figure in the rearview mirror, the cross is now steadfastly rising in an attempt to pare yesterday’s losses. In these moments the cross is trading at 1.0031/32 after the dual release of North American data.