CAD Steady as Jobs Data Shows Canada Rebalancing Due to Tariffs -- Market Talk

Dow Jones

Feb 06

0950 ET - The Canadian dollar is holding steady after release of Statistics Canada's main jobs report, as forex traders treat the data as largely a wash, says Kevin Ford, a foreign-exchange and macro strategist at Convera. The jobs report suggest employment fell 24,800 in January while the unemployment rate also tumbled lower to 6.5% due to a steep drop in labor-force participation. The data "provided neither the bullish spark needed to drive the CAD higher nor the catastrophic signal required to USDCAD breaking aggressively upward through resistance," Ford says. Ford adds the jobs data show that trade-exposed sectors in Canada, mostly manufacturing, continue to struggle while others sectors show resilience. He says the Canadian economy is "rebalancing," instead of collapsing under the weight of U.S. tariffs. (paul.vieira@wsj.com, @paulvieira)

(END) Dow Jones Newswires

February 06, 2026 09:50 ET (14:50 GMT)

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The jobs report suggest employment fell 24,800 in January while the unemployment rate also tumbled lower to 6.5% due to a steep drop in labor-force participation. The data \"provided neither the bullish spark needed to drive the CAD higher nor the catastrophic signal required to USDCAD breaking aggressively upward through resistance,\" Ford says. Ford adds the jobs data show that trade-exposed sectors in Canada, mostly manufacturing, continue to struggle while others sectors show resilience. He says the Canadian economy is \"rebalancing,\" instead of collapsing under the weight of U.S. tariffs. 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The jobs report suggest employment fell 24,800 in January while the unemployment rate also tumbled lower to 6.5% due to a steep drop in labor-force participation. The data \"provided neither the bullish spark needed to drive the CAD higher nor the catastrophic signal required to USDCAD breaking aggressively upward through resistance,\" Ford says. Ford adds the jobs data show that trade-exposed sectors in Canada, mostly manufacturing, continue to struggle while others sectors show resilience. He says the Canadian economy is \"rebalancing,\" instead of collapsing under the weight of U.S. tariffs. 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The jobs report suggest employment fell 24,800 in January while the unemployment rate also tumbled lower to 6.5% due to a steep drop in labor-force participation. The data \"provided neither the bullish spark needed to drive the CAD higher nor the catastrophic signal required to USDCAD breaking aggressively upward through resistance,\" Ford says. Ford adds the jobs data show that trade-exposed sectors in Canada, mostly manufacturing, continue to struggle while others sectors show resilience. He says the Canadian economy is \"rebalancing,\" instead of collapsing under the weight of U.S. tariffs. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK6505":"周期性消费品与消费者服务","N0Z.SI":"联志国际","BK6096":"消闲用品"},"translate_title":"就业数据显示加拿大因关税而实现再平衡，加元稳定——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"N0Z.SI":1.5},"content_text":"0950 ET - The Canadian dollar is holding steady after release of Statistics Canada's main jobs report, as forex traders treat the data as largely a wash, says Kevin Ford, a foreign-exchange and macro strategist at Convera. The jobs report suggest employment fell 24,800 in January while the unemployment rate also tumbled lower to 6.5% due to a steep drop in labor-force participation. The data \"provided neither the bullish spark needed to drive the CAD higher nor the catastrophic signal required to USDCAD breaking aggressively upward through resistance,\" Ford says. Ford adds the jobs data show that trade-exposed sectors in Canada, mostly manufacturing, continue to struggle while others sectors show resilience. He says the Canadian economy is \"rebalancing,\" instead of collapsing under the weight of U.S. tariffs. (paul.vieira@wsj.com, @paulvieira) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 06, 2026 09:50 ET (14:50 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}