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 3, 2025

Canadian Dollar News - Loonie range-bound on weak oil, dovish BoC

The US dollar rate today is struggling to hold its footing as the ongoing US government shutdown adds to uncertainty, with the delay of jobless claims and factory orders data leaving traders cautious. Despite broad greenback softness, the Canadian dollar rate today continues to underperform, pressured by weaker oil prices and dovish expectations after Wednesday’s PMI figures reinforced bets on a BoC rate cut. With both currencies facing headwinds, USD/CAD remains range-bound, and unless a stronger catalyst emerges from upcoming data or policy commentary, the pair is likely to drift without a clear breakout.

Today's Global Currency Highlights

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

USD: US dollar struggles to hold ground as the government shutdown drags on, fuelling uncertainty with jobless claims and factory orders data delayed.
CAD: Canadian dollar underperforms despite broad USD softness, weighed down by weaker oil prices, while Wednesday’s PMI figures reinforce BoC rate cut bets.
EUR: Euro edges higher, eyeing fresh weekly peaks after ECB Lagarde downplays inflation risks, with ECB commentary and upcoming PMIs to guide growth outlook.
GBP: Sterling’s momentum cools but the currency stays close to weekly highs as BoE’s Breeden signals support for easing monetary policy restrictiveness.
JPY: Yen extends its bullish run, lifted by persistent safe-haven demand amid the US government shutdown and reinforced by hawkish BoJ expectations.
AUD: Australian dollar trades quietly but holds near weekly highs, shrugging off soft trade balance data as ongoing USD weakness underpins support.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Latest exchange rates

Today's Economic Calendar

In today’s daily FX update, market attention is limited as key US data releases, Initial Jobless Claims and Factory Orders, remain delayed due to the government shutdown. With no fresh numbers to guide sentiment, traders are looking to Fed speeches for policy cues that could influence the US dollar rate today. On the Canadian side, the lack of domestic drivers leaves the Canadian dollar today vulnerable to broader market flows, with oil prices and external sentiment likely to dictate short-term direction for USD/CAD.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news highlights a muted outlook, with the Canadian dollar rate today struggling to find momentum despite softness in the US dollar. Weaker oil prices and dovish signals from recent PMI data continue to weigh on sentiment, reinforcing expectations for BoC rate cuts. With no major domestic releases on tap, the loonie’s direction will remain tied to global risk trends and external cues, leaving its near-term outlook cautious and range-bound.

USD/CAD Daily Update

What’s the USD/CAD rate today?
As of October 3, 2025, the USD/CAD pair trades at 1.3965, representing a 0.04% move in the last 24 hours, 0.17% this week, and -2.84% this year.

USD/CAD highlights

USD pressured by shutdown uncertainty: The greenback struggles to hold ground as the government shutdown drags on. Delayed jobless claims and factory orders add to the lack of direction.
Canadian dollar underperforms: The loonie fails to capitalize on broad US dollar weakness, weighed down by declining oil prices and dovish sentiment.
BoC rate cut bets reinforced: Softer PMI figures midweek continue to bolster expectations for further easing by the Bank of Canada.

Range-bound USD/CAD outlook:

Economic news impacting USD/CAD today

US 4-Week Bill Auction
US 8-Week Bill Auction
Fed Logan's Speech
Fed Goolsbee's Speech

Daily trading range

Near-term bias for USD/CAD stays range-bound, with the pair expected to trade in a 1.3870–1.3980 band.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
As of October 3, 2025, the EUR/CAD pair trades at 1.63675, representing a -0.01% move in the last 24 hours, 0.31% this week, and 9.99% this year.

EUR/CAD highlights

Euro pushes toward weekly highs: The single currency edges higher, eyeing fresh peaks after ECB President Lagarde downplayed inflation risks.
ECB commentary in spotlight: Traders are focused on upcoming remarks from ECB officials for additional policy signals.
PMIs to shape growth outlook: Eurozone PMI releases remain key to gauging the region’s economic trajectory and near-term euro momentum.

Economic news impacting EUR/CAD today

ECB De Guindos' Speech
S&P Global Services PMI
ECB President Lagarde's Speech

Daily trading range

Near-term bias for EUR/CAD looks mildly bullish, with the pair expected to trade in a 1.6310–1.6440 range.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
As of October 3, 2025, the GBP/CAD pair trades at 1.87619, representing a -0.07% move in the last 24 hours, 0.40% this week, and 4.25% this year.

GBP/CAD highlights

Sterling steadies near weekly highs: The pound’s momentum eases slightly but it continues to trade close to its strongest levels of the week.
BoE’s Breeden signals shift toward easing: Comments from Deputy Governor Breeden point to support for reducing monetary policy restrictiveness, tempering sterling’s upside.
UK data and policy cues to guide outlook: The near-term trajectory for the pound will hinge on upcoming UK releases and further BoE commentary.

Economic news impacting GBP/CAD today

S&P Global Services PMI
BoE Governor Bailey's Speech

Daily trading range

Near-term bias for GBP/CAD looks steady, with the pair expected to trade in a 1.8720–1.8850 range.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
As of October 3, 2025, the CAD/JPY pair trades at 105.774, representing a 0.37% move in the last 24 hours, -1.38% this week, and -3.33% this year.

CAD/JPY highlights

Yen climbs on safe-haven demand: The Japanese yen continues its bullish run as investors seek safety amid ongoing political and fiscal uncertainty in the US.
Risk-off sentiment keeps yen in favour: Global caution is fuelling steady demand for the yen, reinforcing its position as a preferred defensive asset.
BoJ hawkish stance strengthens momentum: Expectations for a more hawkish Bank of Japan policy path add further support to the yen’s near-term outlook.

Economic news impacting CAD/JPY today