USD/CAD trades with modest losses, around mid-1.3300s ahead of US/Canadian jobs data

   •  The USD fails to capitalize on a goodish pickup in the US bond yields.
   •  Subdued oil price action also does little to influence demand for Loonie.
   •  Traders wait for a fresh catalyst from today’s US/Canadian jobs report.

The USD/CAD pair traded with a mild negative bias through the early European session on Friday, albeit remained well within the previous session's broader trading range. 

The pair lacked any firm directional bias and seesawed between tepid gains/minor losses on the last trading day of the week, awaiting fresh catalyst from today's important release of monthly employment details from the US (NFP) and Canada. 

The prevalent risk-on mood-led goodish pickup in the US Treasury bond yields failed to provide any meaningful boost to the US Dollar and failed to assist the pair to build on the recent bounce from sub-1.3300 level, or two-week lows set on Wednesday. 

Adding to this, a subdued action around oil markets, with WTI crude oil prices consolidating below YTD tops touched earlier this week, also did little to influence demand for the commodity-linked currency - Loonie and further collaborated to the range-bound price action.

Currently hovering around mid-1.3300s, it would now be interesting to see if the pair is able to attract any fresh buying at lower levels or the current pull-back marks the end of the recent corrective bounce, setting the stage for the resumption of the prior depreciating move.

Technical levels to watch