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fxAug 4, 2026, 6:14 AM

Canadian Dollar Weakens Ahead of US JOLTS Data

The Canadian dollar fell against the US dollar, with USD/CAD rising toward 1.4050 in early European trading as markets looked to upcoming US jobs data.

USDCAD

The USD/CAD pair advanced to near 1.4050 early Tuesday as the Canadian dollar softened. Traders are weighing ongoing US-Iran diplomatic developments alongside a light data calendar before this week’s key releases.

Later on Tuesday, the US JOLTS Job Openings report is expected to offer fresh clues on labor market strength. The main focus, however, shifts to Friday, when both the US and Canadian July employment reports are due.

The pair’s moves remain sensitive to commodity prices and broader risk sentiment, with crude oil and rate differentials continuing to drive near-term direction.

Source: FXStreet Forex News