{"id":61455,"date":"2019-11-01T04:30:39","date_gmt":"2019-11-01T08:30:39","guid":{"rendered":"https:\/\/currencylive.com\/?p=61455"},"modified":"2019-11-01T08:51:31","modified_gmt":"2019-11-01T12:51:31","slug":"101379-usd-cad-dollar-lower-ahead-of-us-jobs-report","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101379-usd-cad-dollar-lower-ahead-of-us-jobs-report\/","title":{"rendered":"USD\/CAD: Dollar Lower Ahead of US Jobs Report"},"content":{"rendered":"<p>The US dollar trended higher versus the Canadian dollar for the third straight session on Thursday. The US dollar Canadian dollar exchange rate has gained over 0.8% across the week so far. The pair is edging lower in early trade on Friday.<\/p>\n<p>The dollar trended broadly lower on Thursday, although not versus the Canadian dollar, amid softer inflation figures and as the investors continued to digest the 25-basis point interest rate cut by the Federal Reserve earlier in the week.<\/p>\n<p>Investors will now turn their attention towards he US non-farm payroll data from the US labour department. The jobs report is the most keenly watched macroeconomic data release across the month. Analysts predict that 85,000 jobs were created in the US in October. This is down from the 135,000 that were created in September. Analysts also expect unemployment to tick higher by 0.1% to 3.6% and average hourly wages to grow 0.3% on the month or 3% in an annual basis. This would be up slightly from 2.9% in September year on year.<\/p>\n<p>Investors will be watching closely for any sign of weakness in the US labour market, which has so far remained resilient even as the US manufacturing sector has slumped. Hints of weakness could raise investor fears that the slowing manufacturing sector is spreading into other areas of the economy.<\/p>\n<h3><strong>Canadian Expands At Softer Pace<\/strong><\/h3>\n<p>The mood towards the Canadian dollar soured following the Bank of Canada\u2019s monetary policy announcement earlier in the week. Whilst the central bank kept rates on hold, they also unexpectedly downgraded the domestic growth outlook.<\/p>\n<p>Canadian GDP data supported the moved by the BoC to downgrade growth. The Canadian economy expanded at a softer pace than what analysts had been predicting in the third quarter. The Canadian economy grew at 1.3% year on year, missing the 1.4% growth that analysts had pencilled in.<\/p>\n<p>Adding to the Canadian dollar\u2019s woes, the price of oil declined a further 1.9% on Thursday, adding to losses of 1.5% on Wednesday. A weaker oil price weighs on the value of the Canadian dollar versus the US dollar simply because when oil prices are low the amount of US dollars that Canadian earns on each barrel of oil it exports is lower.<\/p>\n<p>Today investors will be looking ahead to Canadian manufacturing numbers.<\/p>\n<table style=\"height: 132px;\" width=\"1043\">\n<tbody>\n<tr>\n<td><a href=\"https:\/\/wise.com\/?utm_source=currencylive-com&utm_medium=affiliate&utm_content=news%2Fwp_json%2Fwp%2Fv2%2Fposts%2F61455&utm_campaign=news\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-61179 aligncenter\" style=\"padding-top: 15px;\" src=\"https:\/\/currencylive.com\/wp-content\/uploads\/2019\/10\/transferwise-keep_your_money-generic-655x110.png\" alt=\"\" width=\"655\" height=\"110\" srcset=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/10\/transferwise-keep_your_money-generic-655x110.png 655w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/10\/transferwise-keep_your_money-generic-655x110-300x50.png 300w\" sizes=\"auto, (max-width: 655px) 100vw, 655px\" \/><\/a><\/p>\n<h6 style=\"text-align: center;\">Advertisement<\/h6>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The US dollar trended higher versus the Canadian dollar for the third straight session on Thursday. The US dollar Canadian dollar exchange rate has gained over 0.8% across the week so far. The pair is edging lower in early trade on Friday. The dollar trended broadly lower on Thursday, although not versus the Canadian dollar, [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3661,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1381],"tags":[1706,1680,1409,1388,1457,1433,1397,1398],"class_list":{"0":"post-61455","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-usd","9":"tag-boc","10":"tag-cad","11":"tag-gdp","12":"tag-jobs-data","13":"tag-manufacturing","14":"tag-rate-cut","15":"tag-us-dollar","16":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/CAD: Dollar Lower Ahead of US Jobs Report - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101379-usd-cad-dollar-lower-ahead-of-us-jobs-report\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101379-usd-cad-dollar-lower-ahead-of-us-jobs-report\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101379-usd-cad-dollar-lower-ahead-of-us-jobs-report\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/CAD: Dollar Lower Ahead of US Jobs Report\",\"datePublished\":\"2019-11-01T08:30:39+00:00\",\"dateModified\":\"2019-11-01T12:51:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101379-usd-cad-dollar-lower-ahead-of-us-jobs-report\\\/\"},\"wordCount\":629,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101379-usd-cad-dollar-lower-ahead-of-us-jobs-report\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100074-usd-gbp-nfp-report-reveal.jpg\",\"keywords\":[\"boc\",\"cad\",\"gdp\",\"Jobs Data\",\"manufacturing\",\"rate cut\",\"us dollar\",\"usd\"],\"articleSection\":[\"CAD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101379-usd-cad-dollar-lower-ahead-of-us-jobs-report\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101379-usd-cad-dollar-lower-ahead-of-us-jobs-report\\\/\",\"name\":\"USD\\\/CAD: Dollar Lower Ahead of US Jobs Report - 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