Investing.com - The U.S. dollar declined against its Canadian counterpart on Friday, as the greenback weakened broadly after data showed that the U.S. economy added less jobs than expected last month, while upbeat Canadian jobs data boosted the nation's currency.
USD/CAD hit 1.1330 during early U.S. trade, the pair's lowest since November 3; the pair subsequently consolidated at 1.1364, retreating 0.53%.
The pair was likely to find support at 1.1261, the low of November 3 and resistance at 1.1466, the high of November 5 and a five-year high.
The greenback came under pressure after the Department of Labor said the U.S. economy added 214,000 jobs last month, disappointing expectations for an increase of 231,000. The number of jobs added in September was revised to 256,000 from a previously estimated 248,000.
The report also showed that the U.S. unemployment rate ticked down to 5.8% in October from 5.9% in September. Analysts had expected the unemployment rate to remain unchanged last month.
Meanwhile, the loonie strengthened after Statistics Canada reported that the number of employed people rose by 43,100 last month, confounding expectations for a 5,000 decline, after an increase of 74,100 in September.
Canada's unemployment rate fell to 6.5% in October from 6.8% in September. Analysts had expected the unemployment rate to remain unchanged last month.
The loonie was higher against the euro, with EUR/CAD sliding 0.28% to 1.4097.