# The Loonie falls after stronger numbers than expected in the American economy. - OFX (US)

> The USD/CAD pair initially rose on November 1 after US October non-farm payrolls rose 128,000, above the 90,000 expected, though manufacturing shed 36,000 jobs. The pair then fell back to resistance near 1.3192. Chinese Caixin manufacturing PMI came in at 51.7 against 51 expected, while crude oil rose about 1.3%.

- Date: 2019-10-31 · published 2019-10-31T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/56800-the-loonie-falls-after-stronger-numbers-than-expected-in-the-american-economy
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Solid US jobs data supports the dollar and firmer Chinese factory activity supports energy and commodity demand, with mixed signals for the loonie.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-12-04 | [OPEC oil output falls in November to lowest since May](https://feedsoft.ai/events/67408-opec-oil-output-falls-in-november-to-lowest-since-may.md) | -1.9% | +3.5% |
| WTI | 2021-05-31 | [OPEC Boosted Production Less Than Expected In May \| OilPrice.com](https://feedsoft.ai/events/47016-opec-boosted-production-less-than-expected-in-may-oilprice-com.md) | +4.4% | +10.0% |
| WTI | 2017-07-01 | [Global oil markets expected to tighten in third quarter 2017, then loosen through 2018](https://feedsoft.ai/events/70655-global-oil-markets-expected-to-tighten-in-third-quarter-2017-then-loosen.md) | -3.5% | +9.1% |
| WTI | 2026-01-09 | [OPEC oil output falls in December on Iran and Venezuela, Reuters survey finds \| Reuters](https://feedsoft.ai/events/20971-opec-oil-output-falls-in-december-on-iran-and-venezuela-reuters-survey-finds.md) | +2.4% | +10.3% |
| WTI | 2025-01-07 | [OPEC oil output falls in December on UAE and Iran, survey finds](https://feedsoft.ai/events/26425-opec-oil-output-falls-in-december-on-uae-and-iran-survey-finds.md) | +7.1% | -1.5% |
| DXY | 2019-12-06 | [Dollar gains after stronger-than-expected U.S. jobs report \| Reuters](https://feedsoft.ai/events/55796-dollar-gains-after-stronger-than-expected-u-s-jobs-report-reuters.md) | -0.4% | -1.1% |
| DXY | 2026-06-25 | [Euro stabilizes near 13-month lows against the US Dollar after in-line US inflation data](https://feedsoft.ai/events/19034-euro-stabilizes-near-13-month-lows-against-the-us-dollar-after-in-line-us.md) | -0.2% | -0.4% |
| DXY | 2020-10-07 | [China Sept FX reserves fell unexpectedly as pandemic pressured global economy](https://feedsoft.ai/events/5562-china-sept-fx-reserves-fell-unexpectedly-as-pandemic-pressured-global-economy.md) | -0.5% | -0.9% |

## Sources

- ofx.com: https://www.ofx.com/en-us/forex-news/daily-and-weekly-market-news/2019/11/01/the-loonie-falls-after-stronger-numbers-than-expected-in-the-american-economy/

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