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Canada’s employment fell by 4,700 in October, while the unemployment rate rose to 6.7%, missing economists’ expectations for job growth. The Canadian dollar dropped 0.7% on Friday and was on track for a 1.1% weekly decline as traders reduced expectations of a Bank of Canada rate increase.
Weaker Canadian data and stronger U.S. employment figures widened the relative economic and rate outlook in favor of the U.S. dollar. This pressure on the Canadian dollar is supportive of USD/CAD.
qz.comColleen CabiliNov 6, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
