Daily Foreign Exchange Update
October 1, 2025
Spot Rates
- USDCAD spot rate: 1.3950 - 1.3955 (as at 9:00am PST)
- Asia: 1.3907 to 1.3933
- Europe: 1.3913 To 1.3938
- North America: 1.3925 to 1.3952
Technical Support / Resistance:
- S2 1.3850
- S1 1.3900
- R1 1.3970
- R2 1.4000
Key Economic Data Releases:
- Canada S&P global mfg PMI: 47.7 exp 47.7 prev 47.7
- U.S. ADP employment: -32k exp 50k prev -3k
- U.S. ISM mfg PMI: 4901 exp 49 prev 48.7
Important Events We're Watching This Week
- Sep 30, USA, JOLTS job openings, Chicago PMI
- Oct 1, Canada, S&P global manufacturing PMI
- Oct 1, USA, ADP employment, ISM manufacturing PMI
- Oct 2, USA, Challenger job cuts, jobless claims
- Oct 3, USA, Non-farm payrolls, ISM services PMI
Market Spotlight The USD/CAD pair extends its sideways consolidative price move for the second straight day and trades above the 1.3900 mark on Wednesday. Meanwhile, the fundamental backdrop seems tilted in favor of bulls and suggests that the path of least resistance for spot prices is to the upside. Crude oil prices struggle to attract any meaningful buyers and remain close to a multi-month trough set in September amid the prospect for a larger output hike by OPEC+ next month. Apart from this, expectations for additional interest rate cuts by the Bank of Canada contribute to the CAD’s relative underperformance and continue to act as a tailwind for the USD/CAD pair. BoC Governor Tiff Macklem said last Tuesday that the central bank will support economic growth while ensuring inflation remains well controlled. Meanwhile, traders have been pricing in the possibility that the US Fed would lower borrowing costs twice this year. This, along with the looming US government shutdown, keeps the USD depressed and caps the USD/CAD pair.
- Currently, the TSX is up 0.42% and the DJIA is up 0.25%.
- EURCAD is up 0.13% trading between 1.6322 and 1.6385.
- GBPCAD is up 0.46% trading between 1.8697 and 1.8840.
- JPYCAD is up 0.81% trading between 0.00939 and 0.00949.
- Gold is up 0.15% trading between $3,853 - $3,895USD/oz.
- Silver is up 1.53% trading between $46.65 - $47.82USD/oz.
- Oil (WTI crude) is down 1.05% trading between $61.42 and $62.89.