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Story perspectives

Canadian Dollar Gains Amid Strong Jobs Data, Oil Plummets

10/11/2025

47 8 Full Breakdown

Summary

Story summary

The Canadian dollar strengthened on October 10, rising 0.1% to 1.40 per United States dollar after September data showed 60,400 jobs were added.
The report reduced expectations for a Bank of Canada rate cut, pricing a 50% chance at the October 29 meeting.
Oil prices fell 4.2% to $58.90 per barrel, offsetting gains in the loonie.
Canadian bond yields eased as trade tensions between the United States and China persisted.

History

Historical Context

In 2017, the Canadian dollar strengthened to 1.40 per U.S. dollar, driven by the addition of 60,400 jobs and fluctuating oil prices, which fell to $58.90 per barrel. The Bank of Canada adjusted interest rate expectations, reflecting a historical trend where job growth influences currency strength and monetary policy, particularly amid U.S.-China trade tensions.

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Story summary

The Canadian dollar strengthened on October 10, rising 0.1% to 1.40 per United States dollar after September data showed 60,400 jobs were added.
The report reduced expectations for a Bank of Canada rate cut, pricing a 50% chance at the October 29 meeting.
Oil prices fell 4.2% to $58.90 per barrel, offsetting gains in the loonie.
Canadian bond yields eased as trade tensions between the United States and China persisted.

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