Canadian Dollar Eases to 1.36 USD

The Canadian dollar depreciated to the 1.36 per USD mark, as a stronger US dollar offset support from recovering oil prices.

A stronger-than-expected jobs report provided leeway for the Federal Reserve to delay rate cuts, supporting the greenback.

Meanwhile, oil prices saw a slight recovery at the end of the week, lifting the outlook of forex flows into Canada and supporting the loonie.

On the policy front, the Bank of Canada hinted at a possible future hike, with Governor Tiff Macklem emphasizing that loosening measures are not currently under consideration as inflation remains significantly above the target threshold.