Business · Markets · 1 day ago
Canadian dollar posts biggest daily fall in nine months
The Canadian dollar fell 0.8% against the US dollar, its biggest daily decline in nine months.
The move came after Canadian data showed 4,700 jobs were lost in October and unemployment rose to 6.7%, its highest level in six months.
Weaker employment figures reduced market expectations that the Bank of Canada will raise interest rates in December.
Lower oil prices also weighed on the currency because oil is one of Canada's main exports.
Meanwhile, the US dollar was supported by stronger-than-expected US employment data.
Over the week, the Canadian dollar fell 1.1%, ending three weeks of gains.
The report does not say what the Bank of Canada will decide in December.
The Canadian dollar fell 0.8% to 1.4128 Canadian dollars per US dollar, its largest daily decline in nine months.
Weak Canadian labour-market data and falling oil prices put pressure on the currency.
Canada lost 4,700 jobs in October, and unemployment rose to 6.7%, its highest level in six months.
The data reduced market expectations of a Bank of Canada interest-rate increase in December.
For the week, the Canadian dollar fell 1.1%, ending a three-week run of gains.
- Who
- The Canadian dollar.
- What
- It fell 0.8% to 1.4128 Canadian dollars per US dollar, its biggest daily decline in nine months.
- When
- The report was published on November 7, 2026; the daily decline date is not stated.
- Where
- Not stated.
- Why
- Weak Canadian employment data and falling oil prices pressured the currency, while strong US employment data supported the US dollar.
This story does not have two clearly opposing sides.
Canada lost 4,700 jobs, and the unemployment rate rose to 6.7%.
The Canadian dollar was reported down 0.8% to 1.4128 Canadian dollars per US dollar.
- Daily decline
- 0.8%
- Exchange rate
- 1.4128 Canadian dollars per US dollar
- October job losses
- 4,700
- Unemployment rate
- 6.7%, highest in six months
- Weekly decline
- 1.1%