EL7.AI
ForexMedium•4 November 2026•
1 min read

Canadian Dollar Hits 7-Week High Against US Dollar

Key Facts

1The Canadian Dollar gained approximately 0.50% against the US Dollar, pushing the USD/CAD pair to seven-week lows.
2The USD/CAD pair is trading around 1.3933 as the Greenback faces selling pressure following US midterm election results.

The Canadian Dollar gained approximately 0.50% against the US Dollar, pushing the USD/CAD pair to seven-week lows. FXStreet reported that the pair is trading around 1.3933 as the Greenback faces selling pressure following the US midterm election results.

The move followed broad weakness in the US Dollar after the elections held on November 3, 2026. In Canada, trade data released on November 4, 2026, showed a trade balance surplus of 5.35 billion, exceeding the forecast of 4.8 billion and providing further support for the CAD.

Markets are now looking ahead to labor market data from both nations on November 6, 2026, when Canada will release its unemployment rate and employment change alongside the US nonfarm payrolls and unemployment rate report.

Open on chart