Call us now 1-888-224-3331

Daily Foreign Exchange Update for October 30

October 30, 2026

Spot Rates:
  • USDCAD spot rate: 1.3955 - 1.3960 (as at 8:02am PST)
  • Asia: 1.3959 to 1.3987
  • Europe: 1.3949 To 1.3976
  • North America: 1.3952 to 1.3977
Technical Support / Resistance:
  • S2 1.3910
  • S1 1.3950
  • R1 1.4000
  • R2 1.4040
Key Economic Data Releases:
  • Canada GDP (Aug): 0% exp 0.2% prev 0% Sept advance estimate: -0.1%
  • U.S. Chicago PMI: 55.3 exp 56.1 prev 58.8
Important events we're watching next week:
  • Nov 2, Canada, S&P global manufacturing PMI
  • Nov 2, USA, ISM / S&P global manufacturing PMI
  • Nov 3, USA, JOLTS job openings
  • Nov 4, USA, ADP employment change, ISM services PMI
  • Nov 5, USA, Challenger job cuts
  • Nov 6, Canada, Net change in employment
  • Nov 6, USA, Non-farm payrolls, UoM consumer inflation expectations
Market Spotlight

Yesterday, USDCAD dropped from 1.4000 down to 1.3970 before briefly testing 1.4013. The pairing then fell back to hold within a 1.3969 – 1.3991 range for the balance of the session. The USD index dropped 0.5% towards 1 month lows after trading near 2 week highs earlier this week.

Overnight, USDCAD dropped to fresh 6 week lows @ 1.3949 before briefly climbing to 1.3977 in early NA trade after a weak reading and advance reading for Canadian GDP. The pairing has since fallen back towards session lows despite broad-based USD strength elsewhere. EURCAD and GBPCAD continue to trend lower falling to 17 month and 5 month lows respectively.

On Wednesday, the BOC hiked its key interest rate by 25bp to 2.50% - a move that was widely expected by markets. Market pricing indicates another one or two rate hikes to 2.75%/3.00% by the end of 2027. Also on Wednesday, the U.S. Fed held its key rate at 4.00%. Looking out to December 2027, the market is pricing in a 33.1% chance of two rate hikes to 4.50%. There is a 27.7% chance of three rate hikes to 4.75%, and a 19.3% chance of just one rate hike to 4.25%.

  • Currently, the TSX and the DJIA are down 1.70% and 0.53% respectively.
  • The S&P500 and the NASDAQ are down 1.36% and 2.17% - both near 3 month lows.
  • EURCAD is down 0.53% trading between 1.5554 and 1.5657 – near 17 month lows.
  • GBPCAD is down 0.18% trading between 1.8673 and 1.8750 – near 5 month lows.
  • JPYCAD is unchanged trading between 0.00885 and 0.00889 – near 2 month lows from near 11 month highs in early October.
  • Gold is down 2.78% trading between $3,891 - $4,018USD/oz – near 1 year lows.
  • Silver is down 5.37% trading between $49.04 - $52.06USD/oz – near 1 year lows.
  • Oil (WTI crude) is up 2% trading between $102.51 and $105.00 – near 6 month highs.