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USD/CAD eases as Canadian dollar outperforms peers

The pair was last near 1.4250 after a peak around 1.4293, with US data mixed and investors dialing back expectations for another Fed hike.

Reported · Written up by our desk · Major Pairs

USD/CAD reversed earlier gains on Monday as the Canadian dollar outperformed major peers, while the US dollar consolidated following mixed US business activity signals, according to FXStreet.

The currency pair traded around 1.4250, easing from an intraday high near 1.4293, its highest level since April 2025.

FXStreet cited updated PMI releases, including a slightly higher final S&P Global Services PMI of 58.8 for September, and a US ISM Services PMI of 54.9 that fell from 55.4 and narrowly missed the 55 forecast.

The outlet also noted that the US Dollar Index was around 102.20 after earlier hitting 102.53, supported by higher Treasury yields, even as traders scaled back expectations for an additional Federal Reserve interest rate hike this month after last week’s weaker-than-expected employment report.

Latest closeDollar index 101.92 ▼0.2%

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