06:13 AM EDT, 05/10/2024 (MT Newswires) -- The Canadian dollar weakened slightly against the US dollar ahead of Statistics Canada's domestic jobs data due to Friday morning.

USD/CAD was 1.3683 in early European trade on Friday.

Royal Bank of Canada estimates that the economy added 15,000 jobs in April and an unemployment rate remaining at 6.1%. Meanwhile the consensus is for a reading of 6.2%, data compiled by Investing.com showed on Bloomberg.

Disappointing domestic jobs data would increase the chance of a Bank of Canada interest rate cut, according to Erik Bregar, director of FX & precious metals risk management at Silver Gold Bull, as reported by Reuters on Thursday.