# Canadian dollar posts biggest gain in 12 years as jobs surge

> The Canadian dollar posted its biggest gain in 12 years on Friday after October jobs data showed 108,300 jobs added, far above forecasts. Oil jumped about 5% to $92.61 a barrel on reports China may relax COVID measures. Markets raised the chance of a half-point Bank of Canada hike in December to 65%.

- Date: 2022-11-04 · published 2022-11-04T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/38913-canadian-dollar-posts-biggest-gain-in-12-years-as-jobs-surge
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Reports of China easing COVID curbs lift the global growth outlook and commodity prices, which supports crude and diesel costs for feed logistics. A weaker US dollar also supports dollar-priced grain demand.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-05-01 | [Canadian dollar posts biggest gain in three months on tariff pause](https://feedsoft.ai/events/25354-canadian-dollar-posts-biggest-gain-in-three-months-on-tariff-pause.md) | -0.2% | +3.9% |
| WTI | 2025-11-28 | [Canadian dollar posts biggest weekly gain since May as GDP surpasses forecasts \| Reuters](https://feedsoft.ai/events/22177-canadian-dollar-posts-biggest-weekly-gain-since-may-as-gdp-surpasses-forecasts.md) | +1.7% | -3.6% |
| WTI | 2016-12-12 | [Canadian dollar above 76 cents US as oil surges to 1½-year high \| CBC News](https://feedsoft.ai/events/73711-canadian-dollar-above-76-cents-us-as-oil-surges-to-11-2-year-high-cbc-news.md) | +0.8% | -1.3% |
| WTI | 2021-11-05 | [Canadian dollar steadies as jobs gain supports rate hike bets - Markets - Business Recorder](https://feedsoft.ai/events/44268-canadian-dollar-steadies-as-jobs-gain-supports-rate-hike-bets-markets-business.md) | +3.4% | -15.9% |
| WTI | 2021-01-19 | [Canadian dollar gains as stimulus hopes boost Wall Street \| Financial Post](https://feedsoft.ai/events/49373-canadian-dollar-gains-as-stimulus-hopes-boost-wall-street-financial-post.md) | +0.9% | +14.9% |
| DXY | 2025-06-26 | [Canadian dollar notches biggest gain in one month as greenback slides](https://feedsoft.ai/events/24452-canadian-dollar-notches-biggest-gain-in-one-month-as-greenback-slides.md) | -0.9% | -0.6% |
| DXY | 2020-08-31 | [Canadian dollar rises nearly 3% in August, posting its biggest gain in 14 months - The Globe and Mail](https://feedsoft.ai/events/51854-canadian-dollar-rises-nearly-3-in-august-posting-its-biggest-gain-in-14-months.md) | +0.1% | +1.4% |
| DXY | 2024-08-30 | [Canadian dollar notches biggest monthly advance this year](https://feedsoft.ai/events/29030-canadian-dollar-notches-biggest-monthly-advance-this-year.md) | +0.2% | -0.9% |

## Sources

- ca.finance.yahoo.com: https://ca.finance.yahoo.com/news/canadian-dollar-posts-biggest-gain-135333757.html

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