Canadian Dollar Set for Worst Week Since September on Weak Jobs Data

The loonie's move is less about any single jobs print than about the divergence it exposes: a third consecutive monthly employment decline against a firm U.S. labor market tilts the policy and rate-differential story firmly against Canada. That matters most for importers of U.S. goods and for anyone holding CAD-sensitive exposure, since the currency is now trading on relative central-bank expectations rather than domestic growth alone. Whether the Fed's next move is delivered as markets expect, and whether Canadian data stabilize, are the open questions that will decide if this is a one-week repricing or the start of a broader trend.