Canadian dollar falls 0.7% on the 6th... employment declines for third consecutive month

The Canadian dollar fell 0.7% against the U.S. dollar on the 6th after Statistics Canada reported a third straight monthly decline in employment, with 4,700 jobs lost in October and the unemployment rate rising to 6.7%. The labor force grew by 33,000 job seekers even as employment fell 42,000 in August and 68,000 in September, though October's decline was smaller than the prior two months. Statistics Canada rounded the October month-over-month employment change to 0.0%, underscoring the marginal nature of the drop. The data confirm a softening labor market, which matters for Bank of Canada rate expectations and the loonie's near-term direction. Watch upcoming inflation prints and BoC communications for signals on whether further easing is likely.