USD/CAD Hits April 2025 High as Weak Canada Jobs Data Deepens US Yield Advantage - VT Markets
USD/CAD rose on Friday as the Canadian Dollar weakened after a soft domestic jobs report, while a firm US Dollar added to the move. The pair was trading near 1.4276, a level last seen in April 2025, as markets repriced the Canadian outlook and leaned towards further US policy tightening. Statistics Canada said employment fell by 68.3K in September versus expectations for a 7K rise, following a 41.7K decline in August. The unemployment rate ticked up to 6.5% from 6.4%, while participation slipped to 64.8%, its lowest since December 1997 outside the pandemic period. Canadian yields dropped, with the two-year down more than 8 basis points to about 3.199%, while the US Dollar stayed near an 18-month high and the DXY sat around 102.30 after an intraday low of 101.92. The US two-year yield held near 4.797%, about 160 basis points above Canada’s, as attention shifts to the University of Michigan sentiment reading and 1-year and 5-year inflation expectations.








