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USD/CAD news for September 16, 2026

The Loonie fell to a six-week low after the Federal Reserve's rate hike, as U.S. dollar strength tied to tightening expectations offset support from gains in oil prices. With the Fed taking centre stage, focus has shifted to the technical levels in play for USDCAD following the decision.

How the day unfolded

  1. The Canadian dollar is under pressure as expectations tied to Federal Reserve policy support the US dollar, offsetting some support from higher oil prices. Canada's August CPI came in at 3.0% year over year, in line with expectations, following mixed inflation data, with ongoing trade-related strains also in focus ahead of the Fed.

  2. The Canadian dollar has been under pressure amid Canada's trade war struggles and mixed inflation data, with August CPI at 3.0% year-over-year in line with expectations. For USDCAD, focus has been on expectations around Federal Reserve policy supporting the U.S. dollar, while gains in oil prices have provided some offset for the loonie.

  3. The Canadian dollar has been under pressure amid Canada's trade war struggles and mixed inflation data. Attention is centered on the Federal Reserve, with expectations around Fed tightening supporting the US dollar and offsetting the impact of oil price gains for the loonie.

  4. The Canadian dollar has softened to near two-week lows around 1.3900 against the US dollar, as US dollar strength tied to Federal Reserve tightening expectations has outweighed support from higher oil prices. Mixed Canadian inflation data has added to the pressure on the loonie, with market focus centered on the upcoming Fed decision.

  5. The Canadian dollar is holding near recent lows against the US dollar, with US dollar strength tied to expectations around Federal Reserve policy offsetting support from higher oil prices. Market attention is centered on the upcoming Fed decision, which is leaving the loonie slightly softer as rate worries persist.

  6. The Canadian dollar is holding near a two-week low against the US dollar, with strength in the US dollar tied to Federal Reserve tightening expectations offsetting support from oil gains. Attention is focused on the Fed decision for the USDCAD pair, while commentary has also noted the Bank of Canada's hawkish tilt.

  7. The Loonie fell to a six-week low after the Federal Reserve's rate hike, with headlines tying the move to US dollar strength on tightening expectations and a hawkish outlook. Gains in oil prices were cited as an offsetting factor for the Canadian dollar, with USDCAD consolidating near 1.3900 around the Fed decision.

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Not investment advice. For informational purposes only.