fbpx Skip to main content

Cart

Daily Updates

US dollar holds recent gains as Canadian inflation comes into focus

By November 15, 2021No Comments
USD to CAD
The US dollar is largely unchanged and holding just under the one month high it hit late last week against the Canadian dollar.  Last week’s move up in the greenback started after October US inflation figures came in at above already elevated expectations.  That led to investors moving forward their timelines for an interest rate hike from the Federal Reserve.  A broad-based USD rally ensued.  The pressure on currencies like the Canadian dollar was further compounded by the decline in oil prices as speculation twirled that the US government might be forced to release more of its strategic crude stockpiles to tame high energy prices.  At the moment, USD to CAD is at 1.251 (CAD to USD is at 0.799).  Canada will get its own October inflation reading tomorrow morning and while it matters the relatively hawkish posture of the Bank of Canada makes it less likely that the Canadian dollar will react wildly to the inflation figure even if it comes in above expectations.  For now, in our view, what matters most to the Canadian dollar exchange rate right now (other than broad moves in USD) is the price of oil.


Are you looking for a better exchange rate?

Get the best exchange rate

Receive daily updates on Canadian dollar

Account to Account Service at Interchange Currency Exchange

Account to Account

If you have US dollar bank account in Canada and are looking to convert in your bank account at better rates than offered by your bank, then this service is for you.

Cash transactions at Interchange Currency Exchange

Cash

We have exchange rates that are much better than the banks and we charge no fees.

Money Transfer services at Interchange Financial

Money Transfer

If you are transferring money internationally or receiving money from overseas, we can help you save money as well because of our better exchange rates.