The Canadian Dollar (CAD) climbed sharply on Friday, adding half a percent against the US Dollar (USD) after January labor market data showed the unemployment rate dropping to 6.5%, its lowest reading since September 2024.
The Canadian Dollar (CAD) held steady against the US Dollar (USD) on Wednesday, trading just below 1.3700 as markets adjusted to the end of the partial US government shutdown and digested a soft private payrolls report.
The Canadian Dollar (CAD) has picked up a little ground intraday, reflecting the broader pressure on the US Dollar (USD), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.