The Canadian Dollar (CAD) surged nearly 0.9% on Friday, marking its second consecutive week of robust gains. This upward momentum in the currency pair against the US Dollar (USD) has allowed the Loonie to recover approximately 2.2% from its seven-month lows reached in early November. Traders reacted positively to the latest labor report, which bolstered confidence in Canada’s economic recovery.
As the CAD strengthens, the exchange rate reflects broader market sentiment favoring the currency. The positive labor data has implications for future trading, suggesting that the Bank of Canada may take a more hawkish stance in its monetary policy. With the CAD trending upward, market participants are keenly observing further economic indicators that could influence the trajectory of the currency pair in the coming weeks.
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Data Source: FX Killer Analysis Team Updated: 2025-12-05 20:22
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.