USD/CAD Consolidates Below 1.3800 as US and Canada Jobs Loom

USD/CAD consolidates below the 1.3800 mark during Friday’s Asian session, near a nearly two-week low. That is the session stamp.

Oil, BoC hawkishness, and a soft dollar

Three forces sit on that stamp. Oil remains firm on the Hormuz / US–Iran tape, supporting the loonie. The Bank of Canada is read as hawkish into its September meeting. The dollar itself softened after Waller leaned toward a hold if inflation progresses. That stack is why the pair is parked under 1.3800.

Twin jobs prints are still ahead

US NFP and Canada employment print in the same slot later Friday. They have not released. consensus for Canada is Employment F 15.1K / P 75.1K and UR F 6.4% / P 6.4%. A soft oil fade plus a hot US labour surprise would be the falsifier for this loonie bid.

Informational only. Not trading advice, signals, or a guarantee of any market outcome.