Forex Flash: USD and CAD may rebound soon – UBS

FXstreet.com (Córdoba) - On Friday the US and Canadian labor market data for March disappointed, notes the UBS analyst team. According to UBS analysts, March was a challenging month with heavy snow that caused an unusual strong distortion to traffic.

"We think, another month of data is needed, before a final assessment about a potential slowdown in the US and in Canada can be discussed", they say. "Market action was driven primarily by the need to clear positions, which gives us confidence that the USD and the CAD may rebound soon".