# Canadian Dollar Plunges as Employment Falls

> Canadian employment fell for a third consecutive month, with 4,700 jobs lost in October and unemployment rising to 6.7%. The Canadian dollar dropped 0.8% against the U.S. dollar on Friday, its largest one-day decline since January, as expectations of a Bank of Canada rate increase eased.

- Date: 2026-11-07 · published 2026-11-08T06:08:57.910Z
- Category: macro · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/87034-canadian-dollar-plunges-as-employment-falls
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weaker labor data reduced expectations for tighter Canadian monetary policy and weakened the currency, raising the local-currency cost of imported feed and other commodities priced in U.S. dollars.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- jagonews24.com: https://www.jagonews24.com/international/news/1176598

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