In Asian trading on October 30, broad-based US dollar weakness pushed USD/CAD lower for a third straight session. Disappointing tech earnings stoked market worries: AI spending keeps climbing but may struggle to generate adequate returns, driving investors into safe-haven government bonds and further weighing on the greenback and USD/CAD. Still, hawkish Federal Reserve expectations lent the dollar some buying support near this week's lows. Traders widely expect a Fed rate hike in December, and Thursday's US macroeconomic data showed the economy remains resilient and price pressures persist, reinforcing that bet; inflation risks from elevated crude oil prices also argue for further Fed tightening. Meanwhile, the Bank of Canada on Wednesday delivered its first rate hike since July 2023, with monetary policy abruptly pivoting toward tightening—a move that limits the Canadian dollar's downside and may deter traders from going long USD/CAD; caution is still warranted before concluding that the pair has clearly turned higher.