# CANADA FX DEBT-C$ retreats from 2-1/2 month high as U.S. jobs data looms | Kitco News

> The Canadian dollar retreated from a 2.5-month high on Thursday ahead of U.S. jobs data expected to show a gain of about 185,000 positions in January. The loonie weakened 0.2% to 1.3320 per U.S. dollar, while U.S. oil settled 0.7% lower.

- Date: 2023-02-02 · published 2023-02-02T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/37581-canada-fx-debt-c-retreats-from-2-1-2-month-high-as-u-s-jobs-data-looms-kitco
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations for U.S. labour data and Fed policy drive the dollar, which affects the value of Canadian exports and dollar-priced commodity trade. The move is routine and has limited direct impact on feed prices.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-11-30 | [USD/CAD retreats from two-month high amid weaker USD, Canadian GDP in focus: Analytics and Market news from 30 November 2021 12:04](https://feedsoft.ai/events/44265-usd-cad-retreats-from-two-month-high-amid-weaker-usd-canadian-gdp-in-focus.md) | -0.5% | +8.7% |
| WTI | 2022-12-02 | [C$ posts weekly decline as U.S. jobs data rattles investors \| Financial Newsletter](https://feedsoft.ai/events/38463-c-posts-weekly-decline-as-u-s-jobs-data-rattles-investors-financial-newsletter.md) | -12.0% | -1.1% |
| WTI | 2026-06-01 | [Canadian Dollar falls despite solid jobs data as US NFP beat forecasts](https://feedsoft.ai/events/19480-canadian-dollar-falls-despite-solid-jobs-data-as-us-nfp-beat-forecasts.md) | +3.5% | -20.5% |
| WTI | 2022-11-16 | [Canadian dollar retreats from 100-day moving average as inflation holds steady - The Globe and Mail](https://feedsoft.ai/events/38907-canadian-dollar-retreats-from-100-day-moving-average-as-inflation-holds-steady.md) | -6.9% | -11.2% |
| WTI | 2020-11-26 | [Oil Slips From 8-Month High as Rally Fizzles Out - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/50317-oil-slips-from-8-month-high-as-rally-fizzles-out-energy-news-top-headlines.md) | +0.1% | +5.6% |

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-02-02/canada-fx-debt-c-retreats-2-12-month-high-us-jobs-data-looms

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