USD/CAD lower as higher inflation reading shapes BoC outlook: Oct 18, 2026
USDCAD moved lower on the day but received a modest lift after another higher Canadian inflation reading. Focus is on upcoming inflation data and the business survey ahead of the Bank of Canada decision, with commentary pointing to an inflation-growth tradeoff keeping policy on hold. BoC Governor Macklem said rates have not yet been raised as energy prices pose challenges.
Updated
This day is still open. Its readings are published once it closes. The live reading is on the USD/CAD page.
Headlines (9)
Carried over from earlier days
- Prime Minister Mark Carney says US is trying to break Canada as Alberta votes on separation pathABC News
- BoC’s Macklem says Canada has not raised rates yet as energy prices pose challengesFXStreet
- USDCAD is lower on the day, but getting a modest lift after another higher inflation readingInvestingLive
- Canadian Dollar: Bullish turn targets 1.40 against US Dollar – ScotiabankFXStreet
- Canada’s Inflation Data, Business Survey on Tap ahead of BoC DecisionActionForex
- Canadian Dollar heads for first weekly gain in six weeksFXStreet
- CIBC warns of inflation risks as ‘leaky loonie’ faces further slideInvesting.com
- Bank of Canada: Inflation-growth tradeoff keeps policy on hold – RBCFXStreet
- The Weekly Bottom Line: Price Pressures Strengthen the Case for Another HikeActionForex
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Monday, October 19 | ||
| Common CPI y/y | 2.6% | CAD |
| CPI m/m | 0.2% | CAD |
| Trimmed CPI y/y | 1.9% | CAD |
| Core CPI m/m | CAD | |
| Median CPI y/y | 2.0% | CAD |
| NAHB Housing Market Index | 31 | USD |
| BOC Business Outlook Survey | CAD | |
| Tuesday, October 20 | ||
| ADP Weekly Employment Change | USD | |