Canadian Dollar Rebounds with Weekly Gain as Jobs Data Boosts Economy
2025-01-10
Reuters
The Canadian dollar ended its weekly losing streak, securing a modest gain as the latest jobs data showed a positive trend, calming expectations of a potential Bank of Canada rate cut this month. This uptick in employment has strengthened the economy, contributing to the loonie's resilience against the US dollar. With the greenback experiencing broad-based gains on Friday, the Canadian dollar's weekly advance reflects the country's improving labor market and its potential to influence future monetary policy decisions, particularly in terms of interest rates. As the economy continues to show signs of stability, the loonie's performance is being closely watched, especially in relation to forex trading and currency exchange rates.
