December Canadian Dollar futures rallied 0.50% today, snapping a five-session losing streak after hitting a 31-week low yesterday. This strong percentage gain, the best since July 22nd, was primarily supported by strong Canadian employment data which led markets to question if the Bank of Canada (BOC) Governor Macklem was cutting rates too aggressively. The BOC has eased by 100 basis points since the start of 2025 in response to economic weakness and contained inflation, with headline CPI at 2.4%. A bounce in WTI Crude Oil futures also supported the Canadian Dollar, as Canada is a major oil exporter.