# Canadian Dollar holds near September highs as traders eye jobs data

> The Canadian dollar held near its highest level since September 16 against the US dollar, with USD/CAD trading around 1.39 after a second day of losses. The dollar weakened after Democrats won the US midterm elections, while crude oil fell to a two-month low on hopes of an end to the US-Iran conflict. Traders were awaiting monthly US and Canadian jobs reports due Friday.

- Date: 2026-11-05 · published 2026-11-05T09:09:15.731Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/81473-canadian-dollar-holds-near-september-highs-as-traders-eye-jobs-data
- 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

Lower oil prices weaken the loonie, a commodity-linked currency, which can affect Canadian and US feed ingredient import costs. Markets still price over 80% odds of another Fed hike in December, which limits further dollar weakness.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-06-01 | [Canadian Dollar falls despite solid jobs data as US NFP beat forecasts](https://feedsoft.ai/events/19480-canadian-dollar-falls-despite-solid-jobs-data-as-us-nfp-beat-forecasts.md) | +3.5% | -20.5% |
| WTI | 2025-03-13 | [Canadian dollar weakens as trade war spooks investors](https://feedsoft.ai/events/25825-canadian-dollar-weakens-as-trade-war-spooks-investors.md) | -0.5% | -7.6% |
| WTI | 2026-07-27 | [Canadian dollar hits near two-week low as oil prices drop \| Reuters](https://feedsoft.ai/events/18591-canadian-dollar-hits-near-two-week-low-as-oil-prices-drop-reuters.md) | -3.3% | -2.6% |
| WTI | 2025-08-19 | [Canadian dollar falls as inflation data fuels rate cut bets — TradingView News](https://feedsoft.ai/events/23556-canadian-dollar-falls-as-inflation-data-fuels-rate-cut-bets-tradingview-news.md) | +1.4% | +1.0% |
| WTI | 2022-12-07 | [Canadian dollar holds near one-month low as Bank of Canada rate hike boost fades - The Globe and Mail](https://feedsoft.ai/events/38459-canadian-dollar-holds-near-one-month-low-as-bank-of-canada-rate-hike-boost.md) | +0.5% | -0.8% |
| DXY | 2025-07-16 | [Sterling edges higher versus dollar as investors await jobs data](https://feedsoft.ai/events/24024-sterling-edges-higher-versus-dollar-as-investors-await-jobs-data.md) | -0.7% | -0.2% |
| DXY | 2024-09-30 | [Sterling holds near recent highs on euro, dollar](https://feedsoft.ai/events/28572-sterling-holds-near-recent-highs-on-euro-dollar.md) | +0.9% | +3.1% |
| DXY | 2022-11-04 | [Canadian dollar posts biggest gain in 12 years as jobs surge](https://feedsoft.ai/events/38913-canadian-dollar-posts-biggest-gain-in-12-years-as-jobs-surge.md) | -2.7% | -4.3% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/canadian-dollar-sits-near-september-16-highs-vs-usd-as-traders-eye-jobs-data-on-friday-202611050858

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