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USDCAD holds 1.40165, 7.1 pips of London range so far

Canadian retail sales land at 12:30 UTC, the first scheduled release of the London day

USDCAD · London session · Published Oct 23, 2026, 8:35 AM

USDCAD last traded at 1.40165, inside a London session that has run 7.1 pips between 1.40105 and 1.40176. The nearest level above is the previous session high at 1.40178, 1.3 pips away, and the nearest below is the session open at 1.40146, 1.9 pips away. Further out sit the prior day high at 1.40504, 33.9 pips above, and the round number at 1.40000, 16.5 pips below.

The Asia session ran 20.6 pips between 1.39972 and 1.40178 and closed at 1.40146. The prior trading day covered 46.8 pips, and an ordinary day of the last 14 covers 68.8 pips. The latest day sits at the 30th percentile of the last 44 days we hold, which the volatility source calls an ordinary day for this market.

Core Retail Sales m/m and Retail Sales m/m for CAD are both scheduled at 12:30 UTC, with forecasts of 1.1% and 1.3% against a previous -0.7% for each. Over 24 past releases of that family, USDCAD moved 7.23 pips on average in the first 15 minutes and 10.04 in the first 60, in either direction. Later, USD Flash Manufacturing PMI and Flash Services PMI are due at 13:45 UTC, and the Michigan releases at 14:00 UTC.

Large speculators are net short 94765 contracts in the CFTC Commitments of Traders report of 2026-10-13, a change of -4602 on the week and the 59th percentile of the last 52 weekly reports. Among headlines graded 2 of 3 for USDCAD, Action Forex carried a piece on the Bank of Canada at an inflection point at 01:42 UTC, and FXStreet ran a gold piece on energy-driven inflation at 06:57 UTC.

Session brief

  1. USDCAD, London sessionOpen 1.40146, high 1.40176, low 1.40105, close 1.40165: a range of 7.1 pips over 95 minutes, from our own one-minute candles.
  2. USDCAD reference levelsPrevious day and previous week high and low, the session open and the round numbers either side, measured on our own candles.
  3. USDCAD, Asia sessionOpen 1.40083, high 1.40178, low 1.39972, close 1.40146: a range of 20.6 pips over 595 minutes, from our own one-minute candles.
  4. USDCAD, previous trading dayHigh 1.40504, low 1.40036, close 1.40102 on 2026-10-22, a range of 46.8 pips, from our own candles on the trading day that starts 17:00 New York.
  5. USDCAD daily rangeAn ordinary day of the last 14 covers 68.8 pips. The latest day sits at the 30th percentile of the last 44 days we hold, which is an ordinary day for this market. Measured on our own candles.
  6. CAD Core Retail Sales m/mScheduled 2026-10-23 12:30 UTC, impact 2 of 3. Forecast 1.1%. Previous -0.7%. From Forex Factory.
  7. CAD Retail Sales m/mScheduled 2026-10-23 12:30 UTC, impact 2 of 3. Forecast 1.3%. Previous -0.7%. From Forex Factory.
  8. USDCAD reaction to retail_sales_cadOver 24 past releases USDCAD moved 7.23 pips on average in the first 15 minutes and 10.04 in the first 60, in either direction. Measured on our own one-minute candles.
  9. USD Flash Manufacturing PMIScheduled 2026-10-23 13:45 UTC, impact 2 of 3. Forecast 55.4. Previous 57.0. From Forex Factory.
  10. USD Michigan 5-Year Inflation ExpectationsScheduled 2026-10-23 14:00 UTC, impact 2 of 3. Forecast 3.5%. Previous 3.5%. From MQL5 Economic Calendar.
  11. CFTC Commitments of Traders, 090741Large speculators are net short 94765 contracts, a change of -4602 on the week. That is the 59th percentile of the last 52 weekly reports.
  12. The Bank of Canada at an Inflection Point: Inflation Fears Live onAction Forex. Graded impact 2 of 3 for USDCAD by our headline classifier.
  13. Gold: Energy-driven inflation weighs – INGFXStreet. Graded impact 2 of 3 for USDCAD by our headline classifier.

Written once by FxMind's desk from our own market data, the same text every reader sees.

Context on the market, not a trade recommendation. The decision is the trader's.