# Why are surging US jobs and falling domestic employment dealing the Canadian Dollar a double blow?

> US employers added 165,000 jobs in October, above the 65,000 forecast, while revisions added 84,000 jobs to August and September estimates; US unemployment fell to 4.1%. Canada lost 4,700 jobs and its unemployment rate rose to 6.7%, while USD/CAD advanced 0.78% to about 1.4120.

- Date: 2026-11-08 · published 2026-11-08T12:09:40.380Z
- Category: macro · region North America · magnitude low
- Page: https://feedsoft.ai/events/87419-why-are-surging-us-jobs-and-falling-domestic-employment-dealing-the-canadian
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The contrast between stronger US and weaker Canadian employment supports the US dollar against the Canadian dollar, with markets also raising expectations of a potential Federal Reserve rate hike. This can make US-priced feed imports costlier for Canadian buyers.

## Read by commodity

- DXY: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-02-13 | [The pain trade: Why the Canadian dollar is aching - The Globe and Mail](https://feedsoft.ai/events/66726-the-pain-trade-why-the-canadian-dollar-is-aching-the-globe-and-mail.md) | -0.4% | -0.2% |
| DXY | 2026-06-01 | [Canadian Dollar falls despite solid jobs data as US NFP beat forecasts](https://feedsoft.ai/events/19480-canadian-dollar-falls-despite-solid-jobs-data-as-us-nfp-beat-forecasts.md) | +1.0% | +1.7% |
| DXY | 2022-10-31 | [Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/39347-canadian-dollar-slips-to-six-day-low-as-oil-prices-fall-the-globe-and-mail.md) | -0.1% | -2.8% |
| DXY | 2025-09-26 | [Canadian dollar posts largest weekly decline since February against resurgent US counterpart - The Globe and Mail](https://feedsoft.ai/events/23119-canadian-dollar-posts-largest-weekly-decline-since-february-against-resurgent.md) | -0.1% | +0.3% |
| DXY | 2017-01-31 | [FED Disapointment Sees The US To Canadian Dollar Exchange Rate Slide](https://feedsoft.ai/events/73225-fed-disapointment-sees-the-us-to-canadian-dollar-exchange-rate-slide.md) | -0.6% | -0.6% |

## Sources

- europesays.com: https://www.europesays.com/unitedstates/104487/

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