The Canadian dollar rose against the majority of its 16 most-traded peers before data tomorrow forecast to show Canada snapped two months of jobs losses in a possible sign the economy is emerging from a mid-year slowdown. The currency rose against the U.S. dollar as crude oil, Canada’s largest export, climbed after U.S. legislators took the first step to approving a military strike on Syria that could disrupt Middle Eastern fuel shipments. Tomorrow’s jobs report may reverse a string of weaker-than-forecast data, from construction activity to retail sales, that contributed to the largest monthly contraction in gross domestic product since the 2009 recession in June. “There’s been a lot of gloom hanging over Canada in recent months, so given that’s the way the market is positioned, when you do get forecasts for better data, then clearly that has a brightening effect,� Jane Foley, a senior currency strategist at Rabobank International Inc., said by phone from London. If there’s strong jobs growth tomorrow, “the market will start to evaluate if the economy is going to improve from here.� The loonie, as the Canadian dollar is known for the image of the aquatic bird on the C$1 coin, rose 0.2 percent to C$1.0480 per U.S. dollar at 8:21 a.m. in Toronto. One loonie buys 95.42 U.S. cents. A report tomorrow will show Canada created 20,000 jobs in August, according to the median estimate of 22 economists surveyed by Bloomberg, after losing 39,400 the previous month. The unemployment rate will remain at 7.2 percent, a separate survey showed. To contact the reporter on this story: Ari Altstedter in Toronto at aaltstedter@bloomberg.net To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net

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