Daily FX Insights - Global Foreign Exchange
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The US dollar rate today is easing for a second consecutive session against the Canadian dollar, retreating from six-month highs around 1.4080 and testing support near 1.4025. Renewed US–China trade tensions are weighing on the greenback, tempering its recent bullish momentum and prompting a modest pullback. Meanwhile, the Canadian dollar rate today is trading sideways, struggling to fully capitalize on USD weakness as lower oil prices limit upside potential. However, the loonie could find some support if crude prices rebound following India’s decision to halt imports of Russian oil. For now, USD/CAD remains range-bound as both currencies react to shifting trade dynamics and commodity trends.
Today's Global Currency Highlights
A quick view of the Canadian dollar performance against the USD and other major currencies.
CAD Daily Performance Against Global Currencies
| Pair | Rates | Daily | Ranges | ||
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Today's Economic Calendar
In today’s daily FX update, traders are focused on a mix of Canadian data and key central bank speeches for direction. Canada’s Housing Starts data and remarks from BoC Governor Macklem will be closely watched for insights into domestic economic momentum, with any positive signals potentially supporting the Canadian dollar today, while weaker figures could keep the loonie under pressure. On the US side, Business Inventories and comments from FOMC member Kashkari are expected to offer fresh policy and growth cues, shaping sentiment around the US dollar rate today. Together, these events could set the tone for near-term USD/CAD movements.
| date | event | actual | consensus | previous |
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Canadian Dollar Daily Outlook
The latest Canadian dollar news points to a cautiously optimistic outlook, with the Canadian dollar rate today finding modest support from higher oil prices but still struggling to build strong upward momentum. Markets remain attentive to upcoming domestic events, including BoC Governor Macklem’s speech, for potential policy clues. Traders are also monitoring global risk sentiment and US Fed commentary, which could indirectly influence the loonie’s direction. While recent resilience in housing activity may offer some support, persistent uncertainty around trade and monetary policy continues to limit decisive moves in the currency.
