Canadian Dollar Slips After Surprise Job Losses
The Canadian dollar declined to a nearly three-week low following a surprise drop in employment for October. The weak domestic data reduced expectations for upcoming interest rate hikes by the Bank of Canada.
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The Canada dollar fell to a nearly three-week low of 1.4110 against its United States counterpart on Friday afternoon after domestic data showed the economy shed 4,700 jobs in October. The drop follows three straight months of employment declines, cooling expectations for central bank rate hikes. USD/CAD was trading 0.7% lower, touching its weakest level since October 19 at 1.4125.
