The post USD/CAD picks up from 1.3940 lows ahead of US and Canadian data appeared on BitcoinEthereumNews.com. The US Dollar is showing moderate gains against its Canadian counterpart on Thursday, trading at 1.3970 after bouncing from five-week lows near 1.3940. From a wider perspective, however, the immediate trend remains bearish, amid the BoC-Fed monetary policy divergence, after depreciating more than 1% in less than two weeks. The US labour market remains in focus on Thursday, following an unexpected 32K net loss of jobs in November, as reported by the ADP Employment Change. These figures contrast with the 5K increase anticipated by the market consensus and signal a significant deterioration, compared to October’s upwardly revised 47K increase. On Thursday, the US Challenger Job Cuts reported 71,321K layoffs in November, down from the 153,074K reported in September. The market is now focusing on the weekly Jobless claims, due at 13:30 GMT, which are expected to show that first-time applications for unemployment benefits increased to 220K in the last week of November from 216K in the previous one. In Canada, the IVEY Purchasing Managers’ Index is forecast to show an improvement to 53.6 in November’s business activity, from the 52.4 reading seen in October. These figures come after the strong Q3 Gross Domestic Product (GDP) data released last week, which, if confirmed, will support the view that the Bank of Canada (BoC) will keep interest rates on hold in December. The US Federal Reserve (Fed), on the contrary, is widely expected to cut rates after its December 10 meeting. The CME Group’s Fed Watch Tool shows an 89% chance of a 25 basis points rate cut next week and between two and three further cuts next year. This keeps the US Dollar on its back foot against most of its peers. Economic Indicator Initial Jobless Claims The Initial Jobless Claims released by the US Department of Labor is a measure… The post USD/CAD picks up from 1.3940 lows ahead of US and Canadian data appeared on BitcoinEthereumNews.com. The US Dollar is showing moderate gains against its Canadian counterpart on Thursday, trading at 1.3970 after bouncing from five-week lows near 1.3940. From a wider perspective, however, the immediate trend remains bearish, amid the BoC-Fed monetary policy divergence, after depreciating more than 1% in less than two weeks. The US labour market remains in focus on Thursday, following an unexpected 32K net loss of jobs in November, as reported by the ADP Employment Change. These figures contrast with the 5K increase anticipated by the market consensus and signal a significant deterioration, compared to October’s upwardly revised 47K increase. On Thursday, the US Challenger Job Cuts reported 71,321K layoffs in November, down from the 153,074K reported in September. The market is now focusing on the weekly Jobless claims, due at 13:30 GMT, which are expected to show that first-time applications for unemployment benefits increased to 220K in the last week of November from 216K in the previous one. In Canada, the IVEY Purchasing Managers’ Index is forecast to show an improvement to 53.6 in November’s business activity, from the 52.4 reading seen in October. These figures come after the strong Q3 Gross Domestic Product (GDP) data released last week, which, if confirmed, will support the view that the Bank of Canada (BoC) will keep interest rates on hold in December. The US Federal Reserve (Fed), on the contrary, is widely expected to cut rates after its December 10 meeting. The CME Group’s Fed Watch Tool shows an 89% chance of a 25 basis points rate cut next week and between two and three further cuts next year. This keeps the US Dollar on its back foot against most of its peers. Economic Indicator Initial Jobless Claims The Initial Jobless Claims released by the US Department of Labor is a measure…

                                                                               The EU’s landmark crypto law was meant to unify the market with a single license. Less than a year in, diverging national approaches are raising fears of regulatory arbitrage and uncertainty.                     As the European Union rolls out its landmark Markets in Crypto-Assets (MiCA) framework, the law’s key promise of a unified market is already under pressure.In the latest episode of Byte-Sized Insight, Cointelegraph explored whether MiCA can live up to its promise. The regulation was designed to simplify operations for crypto firms by introducing a single licensing system across all 27 member states. Once licensed in one country, companies would be able to “passport” their services across the bloc without navigating a patchwork of local rules.Read more