USD/CAD eyes 1.4000 support as oil rises and BoC fears linger: Oct 23, 2026
The Canadian dollar is drawing support from higher crude oil prices, with the OPEC basket noted above $110 in September, while the Bank of Canada faces lingering inflation fears at an inflection point. US-Canada tariff tensions remain in focus alongside comments from Carney on Trump's tariffs. For USD/CAD, attention is on the 1.4000 area and 50- and 100-day moving averages, with Societe Generale describing a range-bound outlook amid a growth gap.
Updated
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Headlines (7)
First seen on October 23
Carried over from earlier days
- Canadian Dollar: Range-bound outlook against US Dollar with growth gap – Societe GeneraleFXStreet
- USDCAD Technicals: The USDCAD pair pushes higher off of 100 day MA support. What next?InvestingLive
- OPEC basket price surges above $110 in Septemberen.shana.ir
- Carney says Trump’s tariffs hurt Americans as US Embassy alleges Canadian interferenceABC News
- Euro weakens against Canadian Dollar amid higher crude oil prices weigh on EUR/CADFXStreet
- USD/CAD Price Forecast: Eyes 1.4000 support after slipping below 50-day EMAFXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Friday, October 23 | ||
| NHPI m/m | CAD | |
| Core Retail Sales m/m | 1.1% | CAD |
| Retail Sales m/m | 1.3% | CAD |
| Flash Services PMI | 57.9 | USD |
| Flash Manufacturing PMI | 55.4 | USD |
| Revised UoM Inflation Expectations | USD | |
| Revised UoM Consumer Sentiment | 46.3 | USD |
| Treasury Currency Report | USD | |