USDCAD Holds Above 1.3700 After Canada Jobs Plunge -17.7K, Unemployment Hits 6.9%

USDCAD has strengthened above 1.3700 from 1.3640 following Canada's April jobs report, which shocked markets with a -17.7k employment drop versus +15k expected, pushing unemployment to 6.9% from 6.7%. Full-time jobs fell 46.7k despite part-time gains of 29k, while wages moderated to 4.5% y/y from 4.7%. Pre-release forecasts anticipated steady 6.6-6.7% unemployment and 15-20k job gains amid BoC's rate at 3.75%, but the miss boosted June cut odds to 60-65%, pressuring CAD lower.