# Loonie tumbles after weak October jobs report

> The Canadian dollar fell 0.8% on Friday and 1.1% for the week after October employment dropped by 4,700, the third consecutive monthly decline, and unemployment rose to 6.7%. Strong US payrolls strengthened expectations of a Federal Reserve rate hike, widening the gap between US and Canadian rate expectations.

- Date: 2026-11-07 · published 2026-11-08T00:10:04.447Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/86643-loonie-tumbles-after-weak-october-jobs-report
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

The weaker loonie raises the Canadian cost of imported feed ingredients and can improve the competitiveness of Canadian exports. The rate divergence supports a higher USDCAD exchange rate.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- briefs.co: https://www.briefs.co/news/loonie-logs-steepest-weekly-slide-since-late-september/

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