Canadian dollar moves with oil prices and softer US dollar: Nov 4, 2026
The Canadian dollar has been trading around moves in oil prices and broad shifts in the U.S. dollar linked to falling Treasury yields and upcoming U.S. data. It gained ground when rebounding oil and a weaker dollar weighed on USD/CAD, including trade near 1.3950, but slipped from a six-week high when oil retreated and at times when volatile oil overshadowed hawkish Bank of Canada remarks.
Updated
This day is still open. Its readings are published once it closes. The live reading is on the USD/CAD page.
Headlines (12)
First seen on November 4
- Canadian Dollar gains as falling Treasury yields, rising oil weigh on USD/CADFXStreet
- Canadian Dollar eyes mid-September lows vs broadly weaker USD as traders await US dataFXStreet
Carried over from earlier days
- Canadian Dollar holds gains as US Dollar struggles on easing safe-haven demandFXStreet
- Canadian Dollar sits near September 16 highs as weaker USD offsets declining oil pricesFXStreet
- Canadian dollar slips from six-week high as oil retreat offsets weaker U.S. dollarInvesting.com
- Canadian Dollar gains ground as rebounding oil prices soften USD/CADFXStreet
- Canadian Dollar regains lost ground as hostilities in Iran boost Oil pricesFXStreet
- USD/CAD Price Forecast: Trades near 1.3950 after pulling back from falling wedge topFXStreet
- Opening Statement before the House of Commons Standing Committee on Financebankofcanada.ca
- BoC’s Macklem signals more rate hikes as Oil fuels inflation risksFXStreet
- Canadian Dollar retreats as volatile Oil prices overshadow hawkish BoC remarksFXStreet
- Bank of Canada Gov. Macklem Pledges to Proceed Carefully on Further Rate IncreasesThe Wall Street Journal
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Wednesday, November 4 | ||
| ADP Non-Farm Employment Change | 67K | USD |
| Trade Balance | 4.8B | CAD |
| Trade Balance | -107.9B | USD |
| Final Services PMI | 57.9 | USD |
| ISM Services PMI | 54.8 | USD |
| Crude Oil Inventories | -1.7M | USD |
| Thursday, November 5 | ||
| Challenger Job Cuts y/y | USD | |
| Prelim Unit Labor Costs q/q | 0.3% | USD |