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 6, 2025

Canadian Dollar News - CAD muted as US dollar stabilizes

The US dollar rate today has eased from overnight highs but remains relatively stable as the US government shutdown extends into its third day. With nonfarm payrolls delayed, markets are turning their focus to PMI releases for fresh signals on economic momentum and policy direction. Meanwhile, the Canadian dollar rate today remains confined within a tight range, pressured by ongoing oil oversupply concerns. Traders are closely watching Canadian PMI data for insights into growth trends and the Bank of Canada’s policy stance. Unless either US data or domestic signals deliver a clear catalyst, USD/CAD is likely to stay 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 eases from overnight highs but stays stable as the government shutdown enters its third day, PMIs now in focus following the delay of nonfarm payrolls.
CAD: Canadian dollar remains stuck in a range as oil oversupply concerns weigh, PMI figures take the spotlight for insights into growth momentum and BoC policy tone.
EUR: Euro brushes off softer PMI, PPI data, climbs toward multi-year highs as the US data blackout continues, Lagarde calls for tighter regulation of EU shadow banks.
GBP: Sterling pares overnight losses despite weaker-than-expected PMIs, though growing labour market risks continue to cast a shadow on the growth outlook.
JPY: Yen turns bearish as fading safe-haven demand pressures the currency amid domestic political uncertainty, divergent BoJ–Fed expectations provide cushion.
AUD: Australian dollar moves higher on easing dovish RBA bets, with the greenback’s downside risks and US political turmoil adding further tailwinds.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX update, attention turns to services sector data from both Canada and the US, with US Nonfarm Payrolls delayed due to the government shutdown. Canada’s Services PMI will be closely watched for signals on economic momentum, with stronger figures likely to support the Canadian dollar today, while softer data could keep the loonie under pressure. On the US side, the S&P Global and ISM Services PMIs will be key in shaping sentiment around the US dollar rate today, providing traders with fresh insight into activity levels and policy expectations.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news reflects a cautious tone, with the Canadian dollar rate today struggling to gain momentum as markets await key services PMI data for direction. Weaker oil prices and lingering BoC rate cut expectations continue to weigh on sentiment, offsetting any potential support from a softer US dollar. With US Nonfarm Payrolls delayed and US services data now in focus, the loonie’s outlook remains muted, and its near-term trajectory will hinge on whether domestic PMI readings can offer a meaningful lift.

USD/CAD Daily Update

What’s the USD/CAD rate today? As of October 6, 2025, the USD/CAD pair trades at 1.39474, representing a 0.01% move in the last 24 hours.

USD/CAD highlights

USD stabilizes amid shutdown uncertainty: The greenback eases from overnight highs but remains steady as the US government shutdown enters its third day.
Canadian dollar trades in tight range: The loonie stays confined as oil oversupply concerns weigh on sentiment, limiting upside potential despite broader USD stability.
PMIs in focus for growth signals: Both Canadian and US PMI data will be closely watched for clues on economic momentum and potential policy shifts.

Muted volatility expected:

Economic news impacting USD/CAD today

US S&P Global Services PMI
US ISM Services PMI
Canada Services PMI

Daily trading range

Near-term bias for USD/CAD remains neutral, with the pair expected to trade in a 1.3880–1.4000.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
As of October 6, 2025, the EUR/CAD pair trades at 1.63389, representing a -0.21% move in the last 24 hours.

EUR/CAD highlights

Euro advances despite soft PMI, PPI: The single currency pushes higher toward multi-year peaks, showing resilience even in the face of weaker eurozone economic readings.
Lack of US data boosts euro momentum: The ongoing US data blackout caused by the government shutdown supports sustained buying interest in the euro.
Lagarde highlights regulatory concerns: ECB President Lagarde’s call for tighter oversight of EU shadow banks adds a policy-driven layer to the euro’s bullish move.

Economic news impacting EUR/CAD today

ECB Schnabel's Speech

Daily trading range

Near-term bias for EUR/CAD remains bullish, with the pair expected to trade in a 1.6320–1.6450 range.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
As of October 6, 2025, the GBP/CAD pair trades at 1.88118, representing a 0.07% move in the last 24 hours.

GBP/CAD highlights

Sterling trims losses despite soft PMI data: The pound recovers from overnight weakness, holding firmer even as PMI figures come in below expectations.
Weaker PMIs highlight fragile UK momentum: Softer economic readings reinforce concerns about the UK’s growth outlook and temper sterling’s upside.
Labour market risks weigh on sentiment: Persistent worries over employment conditions continue to cast a shadow on the pound’s medium-term trajectory.

Economic news impacting GBP/CAD today

BoE Governor Bailey's Speech

Daily trading range

Near-term bias for GBP/CAD is stable, with the pair expected to trade in a 1.8710–1.8850 range.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
As of October 6, 2025, the CAD/JPY pair trades at 107.712, representing a 1.92% move in the last 24 hours.

CAD/JPY highlights

Yen weakens as safe-haven demand fades: The Japanese yen comes under pressure as investors unwind defensive positions amid improving risk sentiment.
Domestic political uncertainty adds pressure: Ongoing political instability in Japan weighs further on the currency, amplifying bearish momentum.
Policy divergence limits downside: Divergent expectations between the BoJ and the Fed provide some support, preventing a deeper yen slide.

Economic news impacting CAD/JPY today