The Canadian dollar spiked up sharply against major currencies after the release of U.S. unemployment and non-farm payroll reports in early New York trading on Friday. As of now, the loonie is trading near 2-week high of 1.0437 against the US dollar, fresh multi-day highs of 1.3393 against the euro and 81.59 versus the yen from early lows of 1.0571, 1.3571 and 79.89, respectively.
According to a report released by the U.S. Labor Department today, non-farm payroll employment fell by 54,000 jobs in August, matching the revised decrease in jobs seen in July. While employment fell by less than expected, the unemployment rate still edged up to 9.6 percent in August from 9.5 percent in July. The modest increase came in line with economist estimates.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.