FX.co ★ CAD weakens on USD

The Canadian dollar slipped 0.16% to about 1.38 per US dollar, pressured by a stronger greenback and easing geopolitical tensions. Hopes for a ceasefire in the Middle East pushed oil prices lower, undermining support for the commodity-linked loonie. Sentiment was further dampened by domestic data showing Canadian employment grew by just 14.1K, missing forecasts, while the jobless rate held at 6.7%, pointing to a softening labor market.