The Canadian dollar weakened slightly to around 1.43 per US dollar in October, extending a 12-week low as weaker employment data reinforced expectations that the Bank of Canada will hold interest rates steady. Employment fell by 68,000, missing expectations for a 7,000 increase, while the unemployment rate edged up 0.1 percentage point to 6.5%, in line with forecasts. Recent data also pointed to a cooling economy. Real GDP rose 0.2% in August, as gains in mining and quarrying and retail trade partly offset a decline in oil and gas extraction. GDP was essentially unchanged in July, ending a three-month growth streak. Although August’s result matched expectations, it highlighted a weaker start to the third quarter. Meanwhile, uncertainty over US-Canada trade ties persisted after US President Donald Trump said Canada had been difficult to deal with, casting doubt over the prospects for a new trade deal.