The Canadian dollar fell 0.1% to 1.3985 per US dollar as investors awaited Canadian jobs data and clues on US policy after the midterm elections. October employment is expected to add 13,600 jobs, with unemployment holding at 6.5%.
The Canadian dollar weakened against its US counterpart on Thursday, trading 0.1% lower at 1.3985 per US dollar, or 71.51 US cents. It extended a pullback from Wednesday’s seven-week high of 1.3927.
Investors awaited Canada’s October employment report, due Friday and expected to show 13,600 jobs added and unemployment steady at 6.5%. Adam Button, chief currency analyst at investingLive, said US President Donald Trump could either double down on trade wars or change course after the midterm results. Canada’s minister in charge of US trade ties, Dominic LeBlanc, said the results would not change Ottawa’s stance toward trade talks.
Canadian bond yields eased, tracking US Treasuries; the 10-year yield fell 2.8 basis points to 3.672%. US crude futures rose 2.7% to $90.47 a barrel. Economists urged Prime Minister Mark Carney’s government to restrain spending in its second budget, citing the prospect of larger deficits in coming years.
