Canadian dollar news this week: what moves the loonie
Canadian dollar news for 2 to 6 November 2026: the Bank of Canada's policy rate is 2.50%, its next decision is on Wednesday 9 December and this week's calendar has one high-impact event for the CAD.
The Canadian dollar is set against the rest by one bank, the Bank of Canada (BoC), and by the things that bank has to react to. Here is the rate it has set, what it is aiming at, the releases that move this currency and what is on the calendar this week.
By Mike, founder of MacroSetup. Page updated . Rate and calendar as the research last recorded them, 6 November 2026, 21:12 Amsterdam time.
Canadian dollar news this week in short
- Central bank
- Bank of Canada (BoC)
- Policy rate
- 2.50%
- What the bank targets
- Inflation at 2%, the middle of a 1 to 3% range
The three things that move it
- 1The price of oil, one of Canada's largest exports.
- 2The United States. Most of what Canada sells goes there, so American growth and trade policy land on the Canadian dollar.
- 3The Bank of Canada, which tends to move in the same direction as the Federal Reserve but not always at the same pace.
Tied to oil prices and to the US economy, its largest trading partner.
On the calendar this week
- Fri 14:30Canada jobs report
Times in Amsterdam. The whole week for all eight is on the calendar page.
Every release that moves the Canadian dollar
What each one is, when it comes out, which line the market reads first, and what the CAD did on the last release days.
- BoC rate decisionHigh impactWhen the Bank of Canada decides, what the Monetary Policy Report and the press conference add, and why the loonie also answers to the oil price that day.
- Canada CPIHigh impactWhat Canada CPI measures, when it comes out, why the Bank of Canada's core measures can matter more than the headline, and how the Canadian dollar reacts.
- Canada jobs reportHigh impactWhat Canada's Labour Force Survey measures, when the jobs report comes out, why the unemployment rate and wages count, and why a single month can mislead.
- Canada GDPHigh impactCanada publishes GDP every month, with an early estimate for the month after. What each figure covers, when it comes out, and why oil shows up in the numbers.
- BoC summary of deliberationsTwo weeks after each Bank of Canada decision comes the account of how Governing Council got there. What it holds, when it lands and when it moves the loonie.
- Canada retail salesWhat Canada's retail trade report measures, why core retail and sales volumes say more than the headline, and how the early estimate can move the loonie.
- Canada PMIWhat the S&P Global Canada Manufacturing PMI measures, when it comes out, what the 50 line means and why it usually moves the loonie less than jobs or CPI.
Sources
The rate, the target and the meeting dates come from the Bank of Canada (BoC) itself: Bank of Canada; Bank of Canada, 2026 schedule; Bank of Canada, 2027 schedule. The rate is the one the research last recorded from the bank.
The releases above are published by Statistics Canada and S&P Global. Each release page names its own sources.
The other seven
A currency is only strong or weak against another one, so the page next door matters as much as this one.
- USD US dollar
- EUR Euro
- JPY Japanese yen
- GBP British pound
- CHF Swiss franc
- AUD Australian dollar
- NZD New Zealand dollar
What the rate gap between two of them pays is on the rate differentials page, and how a pair is scored from two currencies is on the fundamental bias page.
Questions about the Canadian dollar
What moves the Canadian dollar?
What the Bank of Canada (BoC) does and is expected to do, the releases that bank steers by, the mood of the wider market, and anything political big enough to be priced. A currency only moves against another one, so the same questions apply to the other side of the pair.
Which central bank sets the CAD rate, and what is it aiming at?
The Bank of Canada (BoC). It aims at inflation of 2%, the middle of a 1 to 3% range. A release matters most when it speaks to that goal.
Where can I see the current CAD policy rate?
2.50%, as the research last recorded it. You will find it in the "In short" table of this page, next to the date of the next scheduled meeting, and beside the other seven rates on our rate differentials page. Both follow the research, so a decision shows up on the day it is made. All eight rates
Do you publish a CAD forecast?
No. We publish a reading of now: how the currency scores against the other seven today and why, rewritten when the news changes. Nobody here will tell you where a currency will be next month. How past calls turned out