Canadian Dollar Hits 18-Month Low on Jobs Drop
The Canadian dollar declined to an 18-month low against the US dollar after September employment data showed a surprise drop in jobs. The weaker labor market reduced investor expectations for a Bank of Canada interest rate hike this month.
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The Canada currency fell to an 18-month low against USD/CAD on Friday afternoon after domestic employment dropped unexpectedly, scaling back expectations for a Bank of Canada rate hike. The loonie traded 0.4% lower at 1.4275 after touching an intraday low of 1.4298, the weakest level since April 2025. This marks the currency's fifth consecutive weekly decline, down 0.2% for the week overall.
