Daily Foreign Exchange Update for November 5

November 5, 2026

Spot Rates

• USDCAD spot rate: 1.3985-1.3990 (as at 7:45 am PST)
• Asia: 1.3942 to 1.3954
• Europe: 1.3950 To 1.3963
• North America: 1.3965 to 1.3993

Technical Support / Resistance:

• S2 1.3880
• S1 1.3925
• R1 1.3995
• R2 1.4030

Key Economic Data Releases:

• US initial jobless claims 189k 196k exp. 195k prev.

Important events we're watching this week:

• Nov 6, Canada, Net change in employment
• Nov 6, USA, Non-farm payrolls, UoM consumer inflation expectations

Market Spotlight

The USD/CAD Exchange Rate hovers near 1.3990, extending a downward trend as the U.S. dollar trades under broad pressure. The greenback's retreat follows the U.S. midterm elections, where Democrats regained control of Congress, sparking investor concerns over potential fiscal gridlock and slower U.S. economic growth.

The Canadian dollar (loonie) has capitalized on the softer U.S. currency, pushing the pair down to multi-week lows. Commodity pressures—including a dip in WTI crude oil prices—have injected some volatility into the market, while traders remain cautious ahead of upcoming U.S. and Canadian economic data releases

• Currently, the TSX is fairly flat.
• EURCAD is trading between 1.5651 and 1.5715.
• GBPCAD is trading between 1.8765 and 1.8835.
• JPYCAD is trading between 0.008765 and 0.008835.
• Gold is up 1.45% trading between $4,061 - $4,146 USD/oz.
• Silver is trading near $52.60 USD/oz.
• Oil (Brent crude) is up 1.78% trading near $89.75 USD/bbl.