USD/CAD, which measures Canadian dollars per U.S. dollar, traded near 1.4000 Thursday after the Bank of Canada raised its policy rate amid persistent inflation concerns. At 1.4000, one U.S. dollar buys C$1.40.
Investing.com’s live quote page later showed the pair at 1.3996, within a daily range of 1.3970 to 1.4002. FXStreet had put it near 1.3990 during European trading in a note published at 4:05 a.m. ET (08:05 UTC). The figures are snapshots from separate feeds at different times.
On Oct. 28, the Bank’s rate increase lifted its overnight target by 25 basis points to 2.5%. The Bank said Canadian CPI inflation had stayed near 3% since April and could reach about 3.5% by year-end. It pointed to persistent oil prices and the risk that high energy costs would spread to prices for other goods and services. Governing Council said another increase might be needed, while it would “proceed carefully” amid uncertainty.
ING analysts James Knightley and Francesco Pesole said the hike was about 80% priced in before the decision. They saw the first quarter of 2027 as a possible time for another increase and described a December move as a risk.
FXStreet’s technical note characterized the near-term setup as weak, while saying the pattern’s upper edge could change that reading. It placed support near 1.3940 and the wedge’s upper boundary near 1.4080. The outlet also said the pair was below its nine-day exponential moving average at 1.4042 and its 50-day average at 1.4060, with the 14-day relative strength index near 39. FXStreet disclosed that an AI tool assisted its analysis.
The U.S. Bureau of Economic Analysis scheduled its advance estimate of third-quarter GDP and September personal income and outlays for Thursday. The Bank of Canada’s next rate announcement is scheduled for Dec. 9.
