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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.