# Canadian dollar strengthens as traders assess BoC hike, await US data By Investing.com

> The Canadian dollar strengthened against the US dollar after the Bank of Canada raised its benchmark rate 25 basis points to 2.50%, its first increase since July 2023. The Federal Reserve held its rate at 3.75%-4.00%, and the loonie traded near C$1.399 per US dollar while investors awaited US GDP and inflation data.

- Date: 2026-10-29 · published 2026-10-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/17261-canadian-dollar-strengthens-as-traders-assess-boc-hike-await-us-data-by
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Currency moves like this alter the cost of Canadian-denominated exports and feed-ingredient purchases; a firmer loonie modestly eases import costs for Canadian buyers of US feed, while Canadian canola exports become slightly less competitive.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- ca.investing.com: https://ca.investing.com/news/forex-news/canadian-dollar-strengthens-as-traders-assess-boc-hike-await-us-data-4913868
- investing.com: https://www.investing.com/news/forex-news/canadian-dollar-strengthens-as-traders-assess-boc-hike-await-us-data-4984629

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.