U.S. President Trump said we are negotiating with Iran.

Crédit Agricole CIB says USD/CAD has held near 1.40 over the past week. A Democratic win in the US midterms and restarted US‑Canada trade talks failed to lift the Canadian dollar. Preliminary Q3 GDP slowed to 1.3% vs the BOC’s 2% expectation, leaving the economy weak and keeping downside pressure on CAD. The bank flags October employment as the next market focus: a jobs rebound could support the currency, but a clear break below the 200‑day moving average around 1.39 would likely require stronger positive catalysts.

President Trump is weighing whether to end the conflict with Iran or resume large-scale military operations as advisers and allied officials are sharply divided. Vice President Vance and envoy Witkoff favor a diplomatic resolution; Defense Secretary Hegseth and CENTCOM commander Brad Cooper have briefed in favor of restoring major military action. Secretary of State Rubio and Treasury Secretary Bessent advocate tougher sanctions and continued trade blockade of Iran. Qatar officials said on Friday they launched an 11th-hour mediation to avert a new US strike, aiming to bridge the parties, reopen the Strait of Hormuz and lift the US blockade. Insiders said a proposed agreement would compress a preliminary negotiation timetable from 60 days to two days and move almost immediately into nuclear talks; one source said it could offer Trump a face-saving route to begin ending the war. It is unclear whether Iran would accept such terms.