The CAD was trading almost unchanged at 1.4235 per US dollar, or 70.25 cents, after reaching its lowest intraday level since April 2025 at 1.4263

The Canadian dollar steadied near an 18-month low against its US counterpart on Thursday, with the Canadian dollar (CAD) performing better than other currencies as the US dollar notched a broad-based advance.

The CAD was trading almost unchanged at 1.4235 per US dollar, or 70.25 cents, after reaching its lowest intraday level since April 2025 at 1.4263. It follows eight straight daily declines for the currency, the longest ​such streak since May.

The greenback has benefited from higher oil prices and a ​robust domestic economy, said Marc Chandler, chief market strategist at Bannockburn ⁠Capital Markets.

New applications for US unemployment benefits drifted close to 57-year lows last week ​and layoffs decreased in September.

The US dollar added to recent gains against a range of other currencies, as the US 10-year yield jumped to a 24-year high at around 5.34% before turning lower as ​investors stepped in.

The US dollar’s momentum is very stretched, Chandler said. My sense is it ​just needs a little bit of a prick to pop it. And the prick has to come I ⁠think from lower interest rates, he said.

US crude oil futures were trading 1.9% higher at $92.16 a barrel after China suspended oil products exports, potentially tightening fuel markets already coping with supply shortages internationally.

Oil is one of Canada’s major exports. Still, higher energy prices as well as ​trade frictions weighed on Canada’s ​manufacturing sector in ⁠September.

The S&P Global Canada Manufacturing Purchasing Managers’ Index dropped to 51.5 last month from 53.0 in August, marking the lowest level ​since March.

Canadian government bond yields eased across the curve. The 10-year ​was down ⁠7.3 basis points at 3.926%, after earlier reaching its highest level since November 2023 at 4.042%.