Canadian dollar climbs on oil, BoC hike bets and softer USD: Oct 21, 2026
The Canadian dollar has extended its recovery to one-month highs, with USD/CAD trading near multi-week lows around 1.4100. The move has been linked to higher oil prices, a softer US dollar, and stronger Bank of Canada rate-hike expectations after September CPI came in at 3.1% versus 3.2% expected. Hawkish BoC views and capital flows keep the focus on inflation data.
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
- Canadian Dollar holds gains against subdued US Dollar as Fed pause expectations riseFXStreet
- USD/CAD Price Forecast: Hangs near multi-week low, holds above 1.4100 ahead of Canadian CPIFXStreet
- Canadian Dollar extends recovery with all eyes on inflation dataFXStreet
- Canada September CPI 3.1% y/y vs 3.2% expectedInvestingLive
- Canadian Dollar rallies as oil prices rise, US Dollar softensFXStreet
- USD/CAD Price Forecast: Declines below 1.4100, but holds mildly bullish bias above key supportFXStreet
- Hawkish BoC and Capital Flows Lift the Loonie. Forecast as of 20.10.2026LiteFinance
- Euro Lags as French Bond Yields Near 5%, Sterling and CAD Gain on Hike BetsActionForex
- Canadian Dollar climbs to one-month highs as BoC rate-hike bets strengthenFXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Wednesday, October 21 | ||
| Crude Oil Inventories | -0.1M | USD |
| Thursday, October 22 | ||
| NHPI m/m | -0.1% | CAD |
| IPPI m/m | 0.9% | CAD |
| RMPI m/m | 3.1% | CAD |
| Unemployment Claims | 200K | USD |
| CB Leading Index m/m | -0.1% | USD |
| Natural Gas Storage | 83B | USD |
| Friday, October 23 | ||
| Retail Sales m/m | 1.3% | CAD |