# Canadian Dollar suffers double blow as US jobs boom, domestic employment shrinks

> US nonfarm payrolls rose by 165,000 in October, above the 65,000 expected, while Canada lost 4,700 jobs and its unemployment rate increased to 6.7%. USD/CAD rose 0.78% to around 1.4120 as the employment figures widened the contrast between the two labor markets.

- Date: 2026-11-06 · published 2026-11-06T15:10:43.198Z
- Category: macro · region United States and Canada · magnitude low
- Page: https://feedsoft.ai/events/84154-canadian-dollar-suffers-double-blow-as-us-jobs-boom-domestic-employment-shrinks
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Stronger US employment and weaker Canadian data support expectations of a more restrictive Fed relative to the Bank of Canada, boosting the US dollar against the Canadian dollar. The resulting currency move can raise the CAD cost of imported feed and commodity inputs.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- tmgm.com: https://www.tmgm.com/en/analysis/market-news/article/canadian-dollar-suffers-double-blow-as-us-jobs-boom-domestic-employment-shrinks-202611061429

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