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The Canadian dollar surged to a 10-week high against its U.S. counterpart after a surprisingly strong jobs report showed the economy added 53,600 positions.
Canada's economy added a surprising 66,600 jobs in October, lowering the unemployment rate to 6.9% and strengthening the case for a rate hold.
The Bank of Canada will cut approximately 10% of its staff, affecting 225 employees, as part of a government initiative to reduce expenses and achieve significant budget savings by 2026.
The Canadian Dollar fell for a third consecutive day against the U.S. Dollar, with the USD/CAD pair nearing a seven-month high around the 1.4050 mark.
The Canadian dollar rose to a one-month high after the Bank of Canada cut its key interest rate but signaled the easing cycle may be over, a move traders dubbed a 'hawkish cut'.
Four major G10 central banks are set to announce policy decisions this week, creating potential for significant market volatility as investors focus on the U.S. Fed.
Canada's September CPI rose 2.4% year-over-year, exceeding forecasts and reducing market odds for a Bank of Canada rate cut. The Canadian dollar steadied, while the US dollar strengthened amid easing
The Canadian dollar strengthened against its U.S. counterpart after Canada's economy added 60,400 jobs in September, far exceeding market expectations.
Bank of Canada's Senior Deputy Governor, Carolyn Rogers, has labeled the country's banking system an oligopoly, linking a lack of competition to Canada's productivity slump.
Canada's senior deputy central bank official urges businesses to boost investments to counter potential negative impacts from President Trump's trade policies.
The USD/CAD rate is holding above 1.3750 after the Bank of Canada cut rates to 2.50%. Analysts predict a stronger Canadian dollar by 2025.
