Canada absent from economic calendar until next Tuesday.
US data broadly misses the mark, particularly in terms of job gains.
The Canadian Dollar (CAD) fell across the board on Friday after US Nonfarm Payrolls (NFP) and wage data gave a wide miss on forecasts, sending the Canadian Dollar into the low end after an early spark. The US’ ISM Services Purchasing Managers Index (PMI) also fell back into contraction territory for the first time since January of 2023.
Canada has no meaningful economic data until next Tuesday’s Ivey PMIs, leaving the Canadian Dollar at the mercy of broader markets on Friday. With bad data from the US dragging down investor appetite for the Canadian Dollar, the CAD is getting battered, falling against all of its major currency peers. Crude Oil prices are also weakening on Friday, dragging the CAD even lower.
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