Canadian dollar has been reluctant to join in the USD rout
The Canadian dollar would probably be stronger today (ie USD/CAD lower) if not for the looming Canadian jobs report.
The BOC highlighted the labor market as a critical factor in whether or not it will hike rates again. The consensus is for 15,000 new jobs but the full/part-time split and unemployment rate are also key factors.
The data is due at the bottom of the hour along with US capacity utilization.
If the numbers are close to expectations or a tad strong, I expect to see a test of 1.2000 in USD/CAD. Last at 1.2081.