The Canadian Dollar (CAD) surged on Friday after the Canadian economy added five times as many jobs as analysts expected. However, risk-off market sentiment is limiting the CAD’s gains as the Greenback remains a popular destination for investors leery of hawkish Fedspeak and sour US consumer sentiment data.

The Canadian dollar steadied near an earlier one-week low against its U.S. counterpart on Wednesday as the greenback notched broad-based gains and ahead of domestic jobs data this week that could inform the timing of expected interest rate cuts.

The Canadian dollar CADUSD steadied against its broadly stronger U.S. counterpart on Friday, with the currency maintaining a modest weekly advance after a bigger-than-expected domestic jobs gain tempered expectations for Bank of Canada interest rate cuts.

The Canadian Dollar (CAD) found some bids on Thursday after investors’ risk-appetite stepped up, bolstering markets out of safe-havens like the US Dollar (USD). The Greenback is broadly softer on the day, and CAD traders are finding fresh buying momentum.

The Canadian dollar strengthened against its U.S. counterpart on Thursday as the greenback posted broad-based declines and ahead of domestic jobs data that could offer clues on the timing of Bank of Canada interest rate cuts.

Canada expected to gain 18,000 jobs. - Better-than-expected UK data underpins GBP. - US dollar opens lower-Gold and MXN outperform. USDCAD: open 1.3684, overnight range 1.3672-1.3691, close 1.3679, WTI $79.