# Canadian dollar notches biggest gain among G10 currencies after blockbuster jobs report - The Globe and Mail

> The Canadian dollar hit a one-week high on Friday after Canada added 150,000 jobs in January, far above expectations of 15,000, and oil prices rose. The loonie posted the biggest gain among G10 currencies, and money markets raised the odds of another Bank of Canada tightening to about 70%.

- Date: 2023-02-10 · published 2023-02-10T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/37577-canadian-dollar-notches-biggest-gain-among-g10-currencies-after-blockbuster
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Stronger domestic rate expectations lift the loonie, which raises the cost of Canadian canola and other exports for U.S. and overseas buyers. Higher crude prices also feed through to transport and energy costs.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-07-31 | [Canadian dollar notches monthly gain as commodity currencies rally - The Globe and Mail](https://feedsoft.ai/events/35271-canadian-dollar-notches-monthly-gain-as-commodity-currencies-rally-the-globe.md) | +2.8% | -0.4% |
| WTI | 2021-12-03 | [Canadian dollar rebounds from 10-week low after jobs surge - The Globe and Mail](https://feedsoft.ai/events/43857-canadian-dollar-rebounds-from-10-week-low-after-jobs-surge-the-globe-and-mail.md) | +6.5% | +13.1% |
| WTI | 2021-07-28 | [Canadian dollar gains as Fed readies new money market facilities - The Globe and Mail](https://feedsoft.ai/events/46270-canadian-dollar-gains-as-fed-readies-new-money-market-facilities-the-globe-and.md) | -1.5% | -5.8% |
| WTI | 2021-05-18 | [Canadian exporters rejig currency hedges as commodities boom - The Globe and Mail](https://feedsoft.ai/events/47339-canadian-exporters-rejig-currency-hedges-as-commodities-boom-the-globe-and-mail.md) | -0.2% | +8.8% |
| WTI | 2021-05-31 | [Canadian dollar on track for monthly gain as current account swings to surplus - The Globe and Mail](https://feedsoft.ai/events/47327-canadian-dollar-on-track-for-monthly-gain-as-current-account-swings-to-surplus.md) | +4.4% | +10.0% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-jumps-to-one-week-high-as-jobs-gain-spurs-rate-hike/

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