The Canadian dollar strengthened Thursday as rising crude prices and expectations of a Bank of Canada rate hike supported the loonie, which gained for a sixth straight session against the U.S. dollar. The U.S. dollar traded around C$1.4025, its lowest since September 21, or about 71.30 U.S. cents. Oil rose after drone attacks on Saudi and Russian energy infrastructure raised supply concerns. Markets price a strong chance of a 25-basis-point BoC hike on October 28, which would lift the benchmark rate to 2.50%. Attention now turns to Canadian retail sales on Friday and U.S. economic data.
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Canadaexchange ratesinterest ratesoil pricescentral bank
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Related tickers and likely impact
USD/CAD
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/21/2026 | 1.40486 |
| Change that session | -0.08% |
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/21/2026 | 101.70 |
| Change that session | 0.00% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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