USD/CAD pulls back to levels near 1.4100 with Canadian jobs on tap 

• The US stalls below 1.4140 against the Canadian Dollar, following a six-day rally.
• Canada's employment is expected to show a 2,500 net loss in October.
• In the US, Fed's Jefferson and the Michigan Consumer Sentiment Index will grab the focus.

 The US Dollar has lost some momentum on Friday's European trading session, and the USD/CAD pulled back to the 1.1410 area from session highs at 1.4125. The pair's rally from last week's low below 1.3900 was capped at 1.4140 earlier in the week, and is looking for direction ahead of Canada's employment data.

The Greenback drew support on Thursday from the risk-averse sentiment as the main Wall Street indices tanked, with tech stocks leading losses, amid revived fears of an AI bubble. The negative market sentiment has extended into Asia and Europe, although market volatility remains muted so far.

US employment data disappoints

US private data released on Thursday revealed that the economy destroyed employment in October due to cost-cutting plans from businesses and the adoption of AI technologies. These figures offset the moderate optimism after the better-than-expected US ADP Employment report seen on Wednesday.

In Canada, the focus today is on October's Employment report, which is expected to show a 2,500 net loss in employment, following a 60,400 increase in September. The Unemployment Rate is expected to remain steady at 7.1%, but these figures might add pressure on the BoC to lower interest rates further.

In the US, the comments of the Federal Reserve vice chair Philip Jefferson might provide some clues about the central bank's monetary policy plans for December's meeting, although the highlight of the day is the Michigan Consumer Sentiment Index, which is expected to have deteriorated for the fourth consecutive month.