With the jobs report on the horizon, can the Canadian dollar extend its gains against the U.S. dollar?

With the jobs report on the horizon, can the Canadian dollar extend its gains against the U.S. dollar?

09.10.2026 New

In the previous day’s U.S. currency trading, the Canadian dollar rose slightly against the U.S. dollar. Supported by a narrowing of the U.S.-Canada interest rate differential from historic highs, the USD/CAD exchange rate fell to around 1.4245.Meanwhile, the Dollar Index fell 0.08% to 102.17, and the U.S. dollar also weakened slightly overall. Today, Canada’s September employment report is expected to show an increase of 10,000 new jobs and an unemployment rate of 6.5%; we will be watching the Canadian dollar’s reaction to these results.

Among European currencies, the euro and the pound rose slightly against the dollar. The euro/dollar pair rebounded to around $1.1204 as the rise in European government bond yields paused, and the pound/dollar pair also rose to around $1.3219.During Asian trading hours today, the euro/dollar pair has rebounded to around $1.1226, and the focus is on whether selling pressure from the 17-month low will ease. We should also watch for the Swiss franc’s reaction to the Swiss Consumer Confidence Index, due at 4:00 p.m.

Today’s economic indicators include the Swiss SECO Consumer Confidence Index for September at 4:00 p.m., Canada’s September employment change and unemployment rate at 9:30 p.m., and the preliminary October University of Michigan Consumer Sentiment Index at 11:00 p.m.We’ll be watching to see if the strength and weakness of major currencies shift—with a focus on the Canadian dollar and U.S. dollar during North American trading hours, and the Swiss franc during European trading hours.