USD/CAD holds above 1.4000 on firm dollar, soft oil and BoC focus: Oct 28, 2026
USD/CAD has moved above 1.4000 as a stronger US dollar and lower oil prices weigh on the Canadian dollar. Focus is on the Bank of Canada, which is now expected to hike its key rate, with markets looking for hawkish signals. Trade headlines are also in focus after comments that a US deal looks less imminent, alongside the Alberta vote.
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: 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
- Carney says Canada has not budged as US trade deal looks less imminent than claimedInvestingLive
- Canadian Dollar weakens due to stronger US Dollar, lower oil pricesFXStreet
- Canadian Dollar: Cautious outlook into year-end – NBCFXStreet
- Loonie Gains on Alberta Vote and Hawkish BoC. Forecast as of 27.10.2026LiteFinance
- Nobody wants to own the Canadian Dollar before WednesdayFXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Wednesday, October 28 | ||
| Goods Trade Balance | -130.4B | USD |
| Prelim Wholesale Inventories m/m | 0.5% | USD |
| BOC Monetary Policy Report | CAD | |
| Overnight Rate | 2.50% | CAD |
| BOC Rate Statement | CAD | |
| Crude Oil Inventories | 0.1M | USD |
| BOC Press Conference | CAD | |
| FOMC Statement | USD | |