Currency Updates

Daily FX Insights - Global Foreign Exchange

Understand global currency dynamics by tracking key players, like the euro, pound, and the Canadian dollar today, as they respond to economic shifts, market sentiment, and international trade flows.

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October 21, 2025

Canadian Dollar News - Loonie trades softer ahead of CPI print

The US dollar rate today holds modest gains after President Trump’s upbeat comments on trade relations with China, though the prolonged government shutdown continues to limit the greenback’s upside potential. Markets remain cautious as investors await further clarity on fiscal negotiations and upcoming economic data to assess the Fed’s policy path. Meanwhile, the Canadian dollar rate today trades slightly weaker, caught in narrow ranges as modest USD strength offsets domestic support. Rising inflation expectations for September have complicated the Bank of Canada’s policy outlook, keeping traders divided on the timing of potential rate adjustments. With both currencies facing crosscurrents from global trade and fiscal uncertainty, USD/CAD is likely to remain range-bound in the near term.

Today's Global Currency Highlights

A quick view of the Canadian dollar performance against the USD and other major currencies.

USD:US dollar trades with modest gains after Trump’s optimistic comments on US-China trade relations, but the ongoing government shutdown caps upside.
CAD:Canadian dollar posts marginal range-bound losses amid modest USD demand, rising inflation expectations for September complicate the BoC outlook.
EUR:Euro struggles to gather momentum and extends its downtrend as the greenback resurges, markets now eyeing Lagarde’s upcoming speech for fresh cues.
GBP:Pound remains relatively steady ahead of the inflation report, markets expect CPI to accelerate to 4% as BoE Mann’s caution tempers rate-cut bets.
JPY:Yen drops sharply as selling pressure persists after Japan’s lower house votes for Takaichi, exacerbating concerns over delayed BoJ rate hikes.
AUD:Australian dollar tumbles despite a breakthrough in US-Australia bilateral trade as USD extends its upside, losses may remain capped on dovish Fed.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX outlook, market attention turns to Canada’s inflation data, a key indicator for assessing the Bank of Canada’s next policy move. A stronger CPI reading could bolster confidence in the Canadian dollar today, signalling persistent price pressures and reducing the likelihood of deeper rate cuts. Conversely, a softer print may weigh on the loonie by reinforcing dovish expectations. On the US side, traders continue to monitor broader risk sentiment and Fed commentary, which remain crucial in shaping momentum around the US dollar rate today.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news highlights a cautious tone as markets await fresh inflation data to guide their near-term direction. The Canadian dollar rate today remains subdued, with traders hesitant to take strong positions ahead of the CPI release that could shape the Bank of Canada’s next policy steps. A stronger reading could lend temporary support to the loonie, while softer inflation would likely renew pressure amid expectations of further easing. Broader sentiment remains fragile, with investors closely tracking energy prices and Fed signals for additional cues on cross-border market momentum.

USD/CAD Daily Update

What’s the USD/CAD rate today?
As of October 21, 2025, the USD/CAD pair trades at 1.40451, representing a 0.06% move in the last 24 hours.

USD/CAD highlights

US dollar supported by trade optimism:The greenback posts modest gains as upbeat comments from President Trump on US–China trade relations lift sentiment, though the ongoing government shutdown tempers enthusiasm.
Canadian dollar softens amid mixed signals:The loonie records marginal, range-bound losses as modest USD strength outweighs domestic support, keeping the currency under mild pressure.
Inflation expectations complicate BoC outlook:Rising inflation forecasts for September are adding uncertainty to the Bank of Canada’s policy path, as officials weigh price pressures against slower growth.
USD/CAD expected to stay range-bound: With both currencies facing offsetting drivers, the pair is likely to trade within recent levels as markets await new catalysts from data and policy updates.

Economic news impacting USD/CAD today

Canada CPI

Daily trading range

Near-term bias for USD/CAD is neutral, with the pair expected to trade in a 1.4005–1.4085 range.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
As of October 21, 2025, the EUR/CAD pair trades at 1.63094, representing a -0.19% move in the last 24 hours.

EUR/CAD highlights

Euro holds steady amid weak data:The euro moves sideways as Germany’s Producer Price Index contracts further, signalling soft underlying inflation pressures across the bloc.
France’s credit downgrade weighs on sentiment:Investor confidence remains fragile after France’s rating cut, curbing appetite for the common currency and limiting recovery potential.
ECB outlook keeps traders cautious:Markets await fresh commentary from ECB officials for clues on the future rate path, keeping euro volatility subdued.

Economic news impacting EUR/CAD today

ECB's Schnabel Speech
ECB's Lane Speech (Tuesday)

Daily trading range

Near-term bias for EUR/CAD remains neutral, with the pair expected to trade in a 1.6290 – 1.6405 range.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
As of October 21, 2025, the GBP/CAD pair trades at 1.88006, representing a -0.06% move in the last 24 hours.

GBP/CAD highlights

Sterling under pressure amid policy caution:The pound struggles to gain traction as dovish Bank of England expectations weigh on sentiment, with investors scaling back rate hike bets.
Fiscal concerns limit sterling’s recovery:Ongoing worries over the UK’s fiscal position and rising debt levels keep investors wary, curbing any meaningful upside for the currency.
Markets await clarity from BoE officials:Traders look to upcoming BoE commentary for hints on the policy outlook, though expectations for near-term tightening remain muted.

Economic news impacting GBP/CAD today

BoE Gov Bailey Speech (Tuesday)
CPI (Wednesday)
House Price Index (Wednesday)

Daily trading range

Near-term bias for GBP/CAD is neutral to slightly bearish, with the pair expected to trade in a 1.8760–1.8875 range.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
As of October 21, 2025, the CAD/JPY pair trades at 108.187, representing a 0.77% move in the last 24 hours.

CAD/JPY highlights

Yen weakens on improved risk sentiment:The Japanese yen faces renewed selling pressure as global risk appetite strengthens, reducing demand for safe-haven assets.
Policy easing bets weigh on currency: Market expectations that incoming BoJ leadership under Sanae Takaichi may favour a looser monetary stance add further downside pressure to the yen.
Investors eye upcoming BoJ commentary:Traders await official remarks from BoJ members for clarity on future policy direction and timing of potential easing measures.

Economic news impacting CAD/JPY today