Canadian Dollar Slips as Oil Prices Retreat

The Canadian Dollar (CAD) weakened against the US Dollar (USD) on Friday, trading around 1.4230 in Asian hours after rebounding from the previous day's losses.

Market participants are closely watching the upcoming release of US September employment figures for fresh guidance on the Federal Reserve's policy path. Economists anticipate Nonfarm Payrolls will show an increase of 90,000 jobs, down from the prior month's 162,000 reading. The Unemployment Rate is projected to remain steady at 4.1%.

The Canadian Dollar is coming under pressure as crude prices retreat, weighing on the commodity-linked currency and further lifting USD/CAD. Oil markets have eased after regional supply flows from the Middle East largely returned to levels seen before the outbreak of conflict.