USD/CAD climbs to 1.4276 as a dismal Canadian jobs report triggers a sell-off in the Loonie, marking the pair's highest valuation since April 2025.
The USD/CAD pair has surged to levels not seen since April 2025, driven by a significant contraction in the Canadian labor market where 68.3K jobs were lost in September. This weakness in the Canadian Dollar is compounded by a resilient US Dollar, creating a strong upward trend for the pair as it trades near 1.4276.
The pair is rising due to a sharp decline in Canadian employment figures and concurrent strength in the US Dollar.
As of the latest report, the pair is trading around 1.4276.
The Canadian Dollar weakened significantly on Friday after a disappointing labor market report revealed a loss of 68,300 jobs in September. This sharp decline in domestic employment, coupled with a resilient US Dollar, pushed the USD/CAD pair to its highest level since April 2025.
The Canadian Dollar weakened due to a significantly disappointing September employment report that showed a loss of 68,300 jobs, far below market expectations.