# Canadian dollar jumps as jobs data, oil rally bolster BoC rate-hike bets - The Globe and Mail

> The Canadian dollar strengthened on December 7 after Statistics Canada reported a record gain of 94,100 jobs in November and unemployment fell to 5.6 percent, far above the 11,000 forecast. Oil also rallied that day.

- Date: 2018-12-07 · published 2018-12-07T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/61778-canadian-dollar-jumps-as-jobs-data-oil-rally-bolster-boc-rate-hike-bets-the
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Stronger Canadian data raises expectations of Bank of Canada rate hikes, which tends to lift the loonie and make Canadian exports less competitive, a modest factor for global feed commodity prices.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-jumps-as-jobs-data-oil-rally-bolster-boc-rate-hike/

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