Geopolitics Alpha

USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains

Published . Updated .

Key takeaways

  • USD/CAD continues to edge higher for a second consecutive session, trading close to 1.4190 during Asian market hours on Wednesday.
  • Exposed: TLT, IEF, USO, JPM, BAC
  • Market reaction: TLT −0.5% on the day (still updating); IEF −0.3% on the day (still updating); USO +2.4% on the day (still updating)

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ENERGYUSD/CAD Stays Firm as Fed RateHikes Offset Oil GainsGEOPOLITICS ALPHA

USD/CAD continues to edge higher for a second consecutive session, trading close to 1.4190 during Asian market hours on Wednesday. The pair is drawing support from a stronger US Dollar following the latest US inflation release, which has reinforced expectations that the Federal

Directly affected

  • No company is named in this report.

Indirectly affected

  • TLT iShares 20+ Year Treasury Bond ETF-1.2% 19d

    iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “fed” (US interest rates) in this story.

  • IEF iShares 7-10 Year Treasury Bond ETF-0.1% 19d

    iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “fed” (US interest rates) in this story.

  • USO United States Oil Fund-1.1% 30d

    United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.

  • TIP iShares TIPS Bond ETF+0.4% 19d

    iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story.

  • AAXJ iShares MSCI All Country Asia ex Japan ETF-9.1% 10d

    iShares MSCI All Country Asia ex Japan ETF holds stocks listed in Asia, which this story is about (“asian”).

  • BWX SPDR Bloomberg International Treasury Bond ETF

    SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Asia

  • EFA iShares MSCI EAFE ETF-0.7% 6d

    iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Asia

  • JPM JPMorgan Chase+0.1% 30d

    JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “fed” (US interest rates) in this story.

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
TLT+1.08%+1.27%base-0.48%after closeafter closeafter close
IEF+0.67%+0.89%base-0.28%after closeafter closeafter close
USO+2.78%+4.95%base+2.37%after closeafter closeafter close
TIP+0.74%+0.94%base-0.05%after closeafter closeafter close
AAXJ+2.19%-2.15%base+0.00%after closeafter closeafter close
BWX+0.44%+0.07%base-0.63%after closeafter closeafter close
EFA+1.31%-2.38%base-0.25%after closeafter closeafter close
JPM+2.98%-2.21%base-0.11%after closeafter closeafter close

Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.

USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains TradingPedia

Source: TradingPedia

Ishares Tr (TLT) compared with energy stocks (XLE) since 11 Nov 2026

CompanyWhenMoveStatus
AAXJthat day0.00%still updating
AAXJthree days earlier-2.15%final price
AAXJfive days earlier+2.19%final price
BWXthat day-0.63%still updating
BWXthree days earlier+0.07%final price
BWXfive days earlier+0.44%final price
EFAthat day-0.25%still updating
EFAthree days earlier-2.38%final price
EFAfive days earlier+1.31%final price
Ishares Tr (IEF)that day-0.28%still updating
Ishares Tr (IEF)three days earlier+0.89%final price
Ishares Tr (IEF)five days earlier+0.67%final price
Jpmorgan Chase (JPM)that day-0.11%still updating
Jpmorgan Chase (JPM)three days earlier-2.21%final price
Jpmorgan Chase (JPM)five days earlier+2.98%final price
TIPthat day-0.05%still updating
TIPthree days earlier+0.94%final price
TIPfive days earlier+0.74%final price
Ishares Tr (TLT)that day-0.48%still updating
Ishares Tr (TLT)three days earlier+1.27%final price
Ishares Tr (TLT)five days earlier+1.08%final price
United States Oil Fund (USO)that day+2.37%still updating
United States Oil Fund (USO)three days earlier+4.95%final price
United States Oil Fund (USO)five days earlier+2.78%final price

Trades by members of Congress and officials in the stocks in this story

Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).

Ishares Tr (TLT) on one side of this energy story

Companies tied to this story

  • TLT Ishares Tr

    In “USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains,” Ishares Tr (TLT) is linked, with no stored direction, medium confidence. Reason on file: iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “fed” (US interest rates) in this story

  • IEF Ishares Tr

    In “USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains,” Ishares Tr (IEF) is linked, with no stored direction, medium confidence. Reason on file: iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “fed” (US interest rates) in this story

  • USO United States Oil Fund

    United States Oil Fund (USO) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains.” Reason on file: United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story

  • JPM Jpmorgan Chase

    For “USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains,” Jpmorgan Chase (JPM) is linked, with no stored direction, medium confidence. Reason on file: JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “fed” (US interest rates) in this story

  • BAC Bank Of America

    For “USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains,” Bank Of America (BAC) is linked, with no stored direction, medium confidence. Reason on file: Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “fed” (US interest rates) in this story

  • DHI Horton D R

    Horton D R (DHI) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains.” Reason on file: D.R. Horton (operative builders): rate changes move lenders' margins and borrowers' demand. Linked by “fed” (US interest rates) in this story

  • SCHW Schwab Charles

    In “USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains,” Schwab Charles (SCHW) is linked, with no stored direction, medium confidence. Reason on file: The Charles Schwab (security brokers, dealers and flotation companies): rate changes move lenders' margins and borrowers' demand. Linked by “fed” (US interest rates) in this story

  • XOM ExxonMobil Holdings

    In “USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains,” ExxonMobil Holdings (XOM) is linked, with no stored direction, medium confidence. Reason on file: ExxonMobil Holdings (petroleum refining): oil producers' profits rise and fall with crude prices. Linked by “oil” (oil) in this story

Ishares Tr (TLT) and the energy link

“USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains” (11 Nov 2026) reaches Ishares Tr (TLT) through Energy.

For Ishares Tr (TLT), the reason on file says iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “fed” (US interest rates) in this story

Also listed, Ishares Tr (IEF): iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “fed” (US interest rates) in this story

The price range for Ishares Tr (TLT), and the dates in the story

IEF traded between 88.64 and 90.69 across 16 sessions. The latest close on file is 90.08. TLT traded between 76.44 and 80.56 across 16 sessions. The latest close on file is 79.46. USO traded between 143.02 and 171.80 across 20 sessions. The latest close on file is 148.41.

How solid the energy case looks

46 out of 100Price not final

“USD/CAD Stays Firm as Fed Rate Hikes Offset Oil Gains” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.