USD/CAD hovers around 1.3630 as job reports send mixed signals

  • USD/CAD settled near 1.3630 after bouncing from weekly lows
  • Canada shed 48.2K jobs in September. Unemployment jumped to 7.3%. Not good.
  • US added just 35K jobs, while jobless rate stuck at 4.1%

The Canadian Dollar took a hit Friday after some pretty disappointing job numbers came out. The loonie's fall could've been worse, though. Seems like broader USD weakness kept things from getting ugly. The pair is hanging around 1.3630 now, recovering after both countries released their employment reports.

Canada's economy lost 48.2K jobs last month. Ouch. It's the biggest drop since February 2025, following August's 32.5K decline. Analysts expected a small gain of 5K. Kind of surprising how wrong they were. The jobless rate climbed to 7.3% from 7.1%. People are also dropping out of the workforce - participation rate fell to 64.9%. Hourly wages grew 3.7% year-over-year, a tiny bump from the previous 3.6%. This weak jobs picture has traders betting the Bank of Canada will cut rates again in October. Bad news for the loonie.

Canadian bond yields took a dive. The 10-year yield dropped to 3.15%, lowest since mid-July. Investors seem convinced more BoC rate cuts are coming. This yield drop put extra pressure on the CAD, though the US Dollar's general weakness provided some counterbalance.

The US jobs report wasn't great either. The economy only added 35K jobs versus the expected 80K. Still, unemployment held steady at 4.1%, which wasn't supposed to happen - analysts thought it would rise. Wages grew 0.2% month-over-month and 3.5% annually. Nothing spectacular. US Treasury yields fell in response - the 10-year yield hit 3.93% and the 2-year touched 3.42%, both at their lowest since late August. The Dollar Index slipped below 97.00 to around 96.75, but USD/CAD found support since Canada's situation looked worse. That's markets for you.

Technically speaking, USD/CAD is consolidating above its 50-day SMA at 1.3585. The RSI sits at 51 - neutral territory. The ADX is just 16, indicating a pretty weak trend. Not much momentum either way. Support sits at 1.3580 and 1.3550, while resistance is up at 1.3675 and 1.3720. If it breaks higher, we might see a test of 1.3800.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Canadian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF USD -0.73% -0.68% -0.79% -0.11% -0.97% -1.04% -0.92% EUR 0.73% 0.06% -0.08% 0.63% -0.22% -0.30% -0.17% GBP 0.68% -0.06% -0.14% 0.57% -0.27% -0.38% -0.23% JPY 0.79% 0.08% 0.14% 0.70% -0.15% -0.25% 0.02% CAD 0.11% -0.63% -0.57% -0.70% -0.87% -0.96% -0.81% AUD 0.97% 0.22% 0.27% 0.15% 0.87% -0.12% 0.06% NZD 1.04% 0.30% 0.38% 0.25% 0.96% 0.12% 0.15% CHF 0.92% 0.17% 0.23% -0.02% 0.81% -0.06% -0.15%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

As of October 4, 2025, 1 Japanese yen equals 0.00947637 Canadian dollars. The rate has bounced around all year, reaching a high of 0.009833 CAD and a low of 0.009079 CAD. Average for 2025 sits at 0.0094 CAD.

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