# Canadian dollar rebounds from 10-week low after jobs surge - The Globe and Mail

> The Canadian dollar strengthened against the US dollar after Canada added 154,000 jobs in November, well above estimates, and the jobless rate fell to a new pandemic low. US crude rose 3.5% to $68.80 a barrel after OPEC+ said it could review its output hikes at short notice. The loonie traded near 1.2767 per US dollar.

- Date: 2021-12-03 · published 2021-12-03T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/43857-canadian-dollar-rebounds-from-10-week-low-after-jobs-surge-the-globe-and-mail
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Strong jobs data raises expectations for early Bank of Canada rate hikes, which supports the currency. Higher crude prices support Canadian export earnings.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-11-15 | [Canadian dollar recovers from one-month low as risk appetite climbs - The Globe and Mail](https://feedsoft.ai/events/56315-canadian-dollar-recovers-from-one-month-low-as-risk-appetite-climbs-the-globe.md) | +3.2% | +6.1% |
| WTI | 2024-02-06 | [Canadian dollar rebounds as Macklem strikes hawkish tone on rates - The Globe and Mail](https://feedsoft.ai/events/31917-canadian-dollar-rebounds-as-macklem-strikes-hawkish-tone-on-rates-the-globe-and.md) | +5.7% | +7.8% |
| WTI | 2021-02-25 | [Canadian dollar retreats from three-year high as U.S. bond yields soar - The Globe and Mail](https://feedsoft.ai/events/48889-canadian-dollar-retreats-from-three-year-high-as-u-s-bond-yields-soar-the-globe.md) | -3.0% | -3.3% |
| WTI | 2022-03-17 | [Canadian dollar climbs to 2-week high as FX volatility falls - The Globe and Mail](https://feedsoft.ai/events/42499-canadian-dollar-climbs-to-2-week-high-as-fx-volatility-falls-the-globe-and-mail.md) | +21.1% | +9.8% |
| WTI | 2023-02-10 | [Canadian dollar notches biggest gain among G10 currencies after blockbuster jobs report - The Globe and Mail](https://feedsoft.ai/events/37577-canadian-dollar-notches-biggest-gain-among-g10-currencies-after-blockbuster.md) | +0.5% | -1.9% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-rebounds-from-10-week-low-after-jobs-surge/

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