Loading…
The report says Canada’s labor market lost jobs for a third consecutive month through October, while the federal budget improved the near-term deficit outlook but increased longer-term borrowing. In the United States, Democrats’ congressional gains pressured equities, Treasury yields and oil, while stronger-than-expected payrolls strengthened the case for a December Federal Reserve rate hike.
Weak Canadian employment and expectations of tighter U.S. monetary policy may support the U.S. dollar against the Canadian dollar. Lower oil prices can also weigh on Canadian export revenues and the currency, influencing import costs for feed buyers.
actionforex.comTD Bank Financial GroupNov 7, 2026Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
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.
