Canadian Dollar: Loonie’s Slide Accelerates After Weak Jobs Report - Interchange Currency Exchange

It was a difficult, if not disastrous, end to the week for the Canadian dollar. The Canadian dollar came under renewed selling pressure on Friday after Canada released a much weaker-than-expected September employment report. USD/CAD pushed toward the 1.43 level, leaving the Canadian dollar near its weakest levels since April 2025. The headline number was hard to ignore. Canada lost 68,300 jobs in September, compared with expectations for an increase of more than 10,000. That followed a loss of 41,700 jobs in August, adding to concerns that momentum in the Canadian labour market is fading. The unemployment rate edged higher to 6.5% from 6.4%, while labour-force participation fell to 64.8%.