Daily Foreign Exchange Update for May 11, 2026

Spot Rates

• USDCAD: 1.3665 - 1.3670 (as at 8:50am PST)
• Asia: 1.3667 to 1.3695
• Europe: 1.3658 to 1.3682
• North America: 1.3648 to 1.3669

Technical Support / Resistance

• S2 1.3550
• S1 1.3600
• R1 1.3700
• R2 1.3750

Key Economic Data Releases:

• U.S. existing home sales: 4.02M exp 4.05M prev 4.01M

Important events we're watching this week:

• May 12, USA, CPI
• May 13, USA, Producer price index
• May 14, Canada, Wholesale sales
• May 14, USA, Jobless claims, retail sales
• May 15, Canada, Housing starts, portfolio investments, mfg sales

Market Spotlight

The USD/CAD pair trades on a flat note around 1.3670 during the early trading hours on Monday. The US April Nonfarm Payrolls report exceeded expectations, which could provide some support for the USD against the CAD. The US economy added 115,000 jobs in April, versus the 185,000 increase (revised from 178,000) in March, the Bureau of Labor Statistics reported on Friday. This figure surpassed the estimations of 62,000 by a wide margin. Meanwhile, the Unemployment Rate held steady at 4.3% in April, in line with the market consensus.

On the other hand, rising crude oil prices after US President Donald Trump rejected Iran’s counteroffer to end the war with the US and Israel could underpin the commodity-linked Loonie. It is worth noting that Canada is a major oil-exporting country, and higher crude oil prices generally have a positive impact on the CAD. Israeli Prime Minister Benjamin Netanyahu warned on Sunday that the conflict with Iran was “not over,” raising fears that tensions in the Middle East could escalate again and further threaten energy supplies.

• Currently, the TSX is up 0.41% while the DJIA is up 0.02%.
• EURCAD is down 0.07% trading between 1.6054 and 1.6110.
• GBPCAD is up 0.09% trading between 1.8529 and 1.8658.
• JPYCAD is down 0.29% trading between 0.00868 and 0.00873.
• Gold is up 0.34% trading between $4,647 - $4,748USD/oz.
• Silver has is up 6.44% trading between $78.70 - $85.94USD/oz.
• Oil (WTI crude) is up 2.60% trading between $96.18 and $100.34.