# Jobs data helps Canadian dollar pare weekly decline

> The Canadian dollar rose 0.4% to 1.3625 per US dollar on Friday after August jobs data beat expectations, with 39,900 jobs added against a forecast of 15,000. The loonie was still down 0.2% for the week after touching a five-month low the previous day.

- Date: 2023-09-08 · published 2023-09-08T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/34336-jobs-data-helps-canadian-dollar-pare-weekly-decline
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Stronger Canadian labour data supports expectations of further central bank tightening, which firms the CAD and can make Canadian exports more expensive for buyers.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/canadian-dollar-rallies-jobs-data-rekindles-rate-hike-bets-2023-09-08/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.