USD/CAD sticks to modest gains around mid-1.3700s, focus remains on US/Canadian jobs data

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• USD/CAD stages a modest recovery from over a one-week low touched the previous day.
• Some repositioning trade ahead of the US/Canadian jobs data lends support to the major.
• The fundamental backdrop warrants caution before confirming that the pair has topped out.

The USD/CAD pair edges higher during the Asian session on Friday and reverses a part of the previous day’s steep decline to the 1.3735 region, or over a one-week low. Spot prices currently trade around the 1.3750-1.3755 region, up just over 0.10% for the day, though the upside seems limited ahead of the monthly employment details from the US and Canada.