Canadian dollar hits seven-week high on weaker USD after US vote: Nov 5, 2026
The Canadian dollar rose to a seven-week high as markets digested U.S. election results, with a broadly weaker U.S. dollar and falling Treasury yields weighing on USD/CAD. Rising oil prices also supported the Canadian dollar, while traders focused on volatile oil, Bank of Canada Governor Macklem's remarks on proceeding carefully on further rate increases, and upcoming U.S. data, with USD/CAD trading near 1.3950.
Updated
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Headlines (9)
First seen on November 5
Carried over from earlier days
- Canadian Dollar gains ground as rebounding oil prices soften USD/CADFXStreet
- 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
- 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
- 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
- Canadian Dollar rises to seven-week high as markets digest US election resultsFXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Thursday, November 5 | ||
| Challenger Job Cuts y/y | USD | |
| Prelim Unit Labor Costs q/q | 0.3% | USD |
| Unemployment Claims | 197K | USD |
| Prelim Nonfarm Productivity q/q | 2.8% | USD |
| FOMC Member Hammack Speaks | USD | |
| FOMC Member Barkin Speaks | USD | |
| Natural Gas Storage | 81B | USD |
| BOC Gov Macklem Speaks | CAD | |