The Canadian dollar rose 0.3% to C$1.4095 per U.S. dollar on Oct. 19 as swap-market pricing implied about an 80% chance of a Bank of Canada rate hike on Oct. 28, up from 30% on Oct. 16. Statistics Canada reported consumer prices rose 3.1% year over year in September, up from 3.0%, with gasoline up 27.8% while inflation excluding gasoline eased to 2.2%. Employment fell by 42,000 in August and 68,000 in September, and unemployment rose to 6.5%. ING strategist Francesco Pesole said the Canadian dollar had little room for further gains and forecast USD/CAD at 1.420 by end-October and year-end 2026. The Bank of Canada had held its rate at 2.25% on Sept. 2, and its next decision is due at 9:45 a.m. ET on Oct. 28.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Canadian Dollar Gains as October Bank of Canada Rate Odds Reach 80 %
Read the original on econotimes.com ↗
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Canadainterest ratesinflationemployment
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Related tickers and likely impact
USD/CAD
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/16/2026 | 1.41389 |
| Change that session | -0.32% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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