Canadian dollar gains as BoC hike bets offset lower oil: Oct 26, 2026
The Canadian dollar has gained against the US dollar despite lower oil prices, though USD/CAD has also been seen above 1.4000 as oil prices weighed on the CAD. Focus is on the Bank of Canada, with markets pricing an 81% chance of a first hike in a year to 2.50% and looking for hawkish signals. A US trade deal looking less imminent, with Canada said not to have budged, is also in the background.
Updated
The reading that day
NeutralAt the close of the UTC day.
BearishNeutralBullish
It held all day.
The day on the wire
00:0006:0012:0018:0024:00
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The reading through the day
- 00:00Neutral
Headlines (15)
First seen on October 26
- Canadian Dollar gains despite lower oil pricesFXStreet
- NZD/USD and USD/CAD in Focus as RBNZ and BoC May Deliver Central Bank Week’s Biggest SurprisesActionForex
- Major central banks take centre stage this week but will there be any surprises?InvestingLive
- Canadian Dollar softens despite BoC rate hike expectationsFXStreet
- USD/CAD Reversal Risk Builds as Central Bank Showdown LoomsInvesting.com
- Canadian Dollar: BoC rate hike bets boost support against USD - BBHFXStreet
- USD/CAD Price Forecast; Dollar picks up above 1.4000 as Oil prices hit the CADFXStreet
- Bank of Canada now expected to hike key rate as it faces ‘pivotal decision’boereport.com
- BoC Seen Hiking, Markets Look for Hawkish SignalsActionForex
- Canadian Dollar: Rate hikes in sight – CommerzbankFXStreet
- Carney says Canada has not budged as US trade deal looks less imminent than claimedInvestingLive
Carried over from earlier days
- The Weekly Bottom Line: Yields Fall as Tech Stocks Sell OffActionForex
- Week Ahead: Five G10 Central Banks Meet and Reserve Bank of New Zealand and the Bank of Canada are Most Likely to Hikemarctomarket.com
- CFTC Report: WTI rally runs ahead of positioningFXStreet
- Bank of Canada preview: 81% chance of first hike in a year to 2.50%, economists splitInvestingLive
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Tuesday, October 27 | ||
| ADP Weekly Employment Change | USD | |
| Durable Goods Orders m/m | 2.0% | USD |
| Core Durable Goods Orders m/m | 0.6% | USD |
| S&P/CS Composite-20 HPI y/y | 2.6% | USD |
| HPI m/m | 0.2% | USD |
| Richmond Manufacturing Index | 0 | USD |
| CB Consumer Confidence | 81.2 | USD |
| New Home Sales | 651K | USD |