Loonie dips only slightly after Canada jobs data

Canada’s labour report — Employment Change and the Unemployment Rate — landed at 13:30 UTC on 6 November, and the Canadian dollar eased against every counterpart in our feed. The clearest reaction was in USDCAD, which rose 0.25% to 1.4095 as the loonie slipped against the greenback.

Where the loonie moved

USDCAD led the board, climbing from 1.4060 to 1.4095 — a 0.25% gain for the US dollar and the only move past a quarter percent.

Against the franc, CADCHF eased 0.18%, from 0.58302 to 0.58197. CADJPY was close behind, down 0.16% from 112.608 to 112.423.

The commodity-linked crosses showed smaller shifts. AUDCAD firmed 0.14%, from 0.96679 to 0.96810, while NZDCAD added 0.10%, moving 0.77984 to 0.78062. EURCAD was the quietest, up 0.10% from 1.56956 to 1.57108.

What the reaction shows

The move was uniform in direction but contained in size: the loonie sat lower against all six counterparts, yet only the USDCAD pairing cleared a quarter percent. The rest of the crosses stayed inside two tenths of a percent.

That leaves the reaction concentrated in the US dollar leg, with the European and commodity crosses registering only faint drift. On the latest read of our M15 feed, it registers as a modest, broad-based softening rather than a sharp repricing.

Descriptive market news from the ForexBullion Research Team. Not investment advice.