1116 GMT - The Canadian dollar could fall further against the U.S. dollar if Canada's labor market data are weaker compared to U.S. jobs data, Monex Europe analysts say in a note. Canada's data could "continue the recent trend of underwhelming markets," unlike the U.S. counterpart job figures, they say. This would highlight a stark economic divergence between Canada and the U.S. and "warrant another leg higher for USD/CAD." Monex expects USD/CAD to establish a firm base above 1.44. USD/CAD rises 0.1% to 1.4407. It hit its highest since early 2020 at 1.4468 in mid-December. Canada's jobs data and the U.S. nonfarm payrolls report are both due at 1330 GMT.(renae.dyer@wsj.com)
(END) Dow Jones Newswires
January 10, 2025 06:16 ET (11:16 GMT)
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