Elev8 broker’s Forex market report: currency…
By David Perk
AI summary of the source article
In October, oil-correlated currencies including the Norwegian krone, Russian rouble, and Canadian dollar rallied, while major Latin American currencies weakened. Meanwhile, the Bank of Canada raised its benchmark interest rate by 25 basis points to 2.50%.
Why it matters
Elev8 provides retail traders with market data and analytics "to see more market context so they can respond effectively to changing conditions."
Key facts
- The Bank of Canada raised its benchmark interest rate by 25 basis points to 2.50% on 28 October.
- Brent crude oil prices rose approximately 15% in October, boosting currencies of energy producers including NOK, RUB, and CAD.
- The Brazilian real, Mexican peso, and Chilean peso were the weakest regional performers due to domestic political, monetary, and economic factors.
Source excerpt · FinanceFeeds
Elev8, a global CFD broker, continues its Traders Outlook article series. This issue focuses on the most significant currency changes in October and outlines the main events to watch for in November 2026. What happened in October The chart below shows how selected currencies performed in October 2026. Deep teal marks major currencies and the U.S. Dollar Index (DXY). All currencies' performance is…