# Canadian dollar snaps losing streak as jobs boom clips rate cut bets - The Globe and Mail

> The Canadian dollar rose to a five-week high after August jobs rose by 81,100, far above the 15,000 expected, driven by part-time work. Markets cut the odds of a Bank of Canada rate cut at the October 30 decision to about 22%.

- Date: 2019-09-06 · published 2019-09-06T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/57326-canadian-dollar-snaps-losing-streak-as-jobs-boom-clips-rate-cut-bets-the-globe
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A stronger Canadian labor market reduces the likelihood of BoC easing and supports the loonie, which pushes USD/CAD lower and affects the relative cost of Canadian-origin feed commodities.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-posts-one-month-high-as-jobs-gain-clips-rate-cut-bets/

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