USD/CAD tests six-week lows after BoC hike as dollar softens: Oct 30, 2026
The Bank of Canada raised rates by 25 basis points in October, its first tightening in a year, while the Federal Reserve held rates steady. USD/CAD was testing six-week lows around 1.3968 amid a softer U.S. dollar, with the Canadian dollar holding near its September 16 high alongside firm oil prices while U.S. PCE inflation and GDP data shaped expectations around the Fed.
Updated
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Headlines (10)
First seen on October 30
- Canadian Dollar stands firm near September 16 top vs weak USD amid bullish oil pricesFXStreet
- USD/CAD Price Forecast: Testing six-week lows at 1.3968 amid a softer US DollarFXStreet
Carried over from earlier days
- Rate announcement to come at 9:45 (ET)bankofcanada.ca
- The full statement from the Bank of Canada rate decision for October 2026. Hikes by 25 basis pointsInvestingLive
- The USDCAD is trading in a neutral swing area ahead of the Bank of Canada rate decisionInvestingLive
- BoC recap: Rates up... and another one on the cards?FXStreet
- Bank of Canada tightens policy for first time in a yearcentralbanking.com
- investingLive Americas FX news wrap 28 Oct: Fed holds rates, yield curve steepens as Big Tech earnings divergeInvestingLive
- Bank of Canada: Further tightening risk highlighted – RabobankFXStreet
- Canadian Dollar weakens as US PCE inflation and GDP back hawkish Fed betsFXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Friday, October 30 | ||
| GDP m/m | 0.2% | CAD |
| Employment Cost Index q/q | 0.8% | USD |
| Chicago PMI | 55.8 | USD |
| FOMC Member Daly Speaks | USD | |
| FOMC Member Musalem Speaks | USD | |
| Sunday, November 1 | ||
| Daylight Saving Time Shift | CAD | |
| Daylight Saving Time Shift | USD | |
| FOMC Financial Stability Report | USD | |