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US Jobs Data Steadies USD/CAD as Oil Prices Rise

Guavy AI Editorial Team
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The USD/CAD pair remains relatively stable near 1.3835 in early European trading on Monday, as robust US jobs data offset rising crude oil prices.

The US Nonfarm Payrolls added 162,000 jobs in August, exceeding expectations, while the Unemployment Rate remained steady during the same period, according to the US Bureau of Labor Statistics (BLS).

This stronger-than-expected job market has increased market expectations for a Federal Reserve rate hike at the September policy meeting, with Fed funds futures now pricing in roughly a 60% probability of a hike, according to the CME FedWatch tool.

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