Canadian Dollar Today: USD/CAD Rate, Daily Outlook & News

What's happening to the Canadian dollar today?

Canadian dollar news - The Canadian dollar (CAD) remains under pressure near recent lows as a powerful US dollar and elevated Treasury yields continue to dominate the pair. Hawkish FOMC minutes reinforced expectations that another US rate increase remains possible before year-end, while stronger oil prices are providing CAD with only partial protection. Attention now shifts to US jobless claims today and Friday’s Canadian labour report for the next major move in USD/CAD.

• US jobless claims could shift Fed expectations: A softer labour reading would reduce pressure for another Fed hike and could give CAD some relief, while stronger claims data would keep USD supported.
• Canadian employment is the next major CAD test: A solid jobs report on Friday could strengthen expectations that the Bank of Canada can remain patient, while another weak reading would increase pressure on CAD.
• Oil could become a stronger CAD support: Crude prices have surged on renewed Middle East supply concerns, and further gains could help limit USD/CAD upside even if the US dollar stays firm.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of October 8, 2026, USD/CAD is trading at 1.4227, representing a -0.20% shift in the last 24 hours. Today, the pair has traded within the 1.4217-1.4278 range.

What is the Canadian dollar worth today against USD and other currencies?

The Canadian dollar's worth today is approximately US$0.7029, €0.6271, £0.5315, ¥111.00, CHF0.5847 and A$1.0103. These are indicative market rates and may differ from the rate available when exchanging money.

Is the Canadian dollar up or down today against USD and other currencies?

The Canadian dollar is essentially unchanged against euro (+0.02%) and Chinese yuan (+0.02%), gaining against the US dollar (+0.20%), British pound (+0.07%), Japanese yen (+0.13%), Mexican peso (+1.44%), Indian rupee (+0.22%), New Zealand dollar (+0.11%), Swiss franc (+0.07%) and Australian dollar (+0.18%) while losing ground against the none. CAD’s strongest move among the displayed crosses is against the Mexican peso, while its largest decline is against the Chinese yuan.

For a broader view of the currency moves and the events ahead, see our weekly Canadian dollar outlook.

Why is the USD/CAD rising or falling today?

USD/CAD remains elevated as hawkish Fed expectations and multi-decade-high Treasury yields outweigh the Canadian dollar’s support from sharply higher oil prices. The US dollar rate today remains near an 18-month high after FOMC minutes showed most policymakers still expect another rate increase before year-end, while the CAD to USD backdrop is receiving some relief from the latest surge in crude. The pair remains close to recent highs, leaving upcoming US labour data and Friday’s Canadian jobs report as the next major catalysts.

• FOMC minutes support USD: Most Fed policymakers indicated another rate increase could be appropriate before year-end as inflation remains the dominant policy concern.
• Treasury yields remain elevated: High US yields continue to strengthen the relative appeal of dollar-denominated assets and keep USD/CAD supported.
• Oil is cushioning CAD: A sharp rise in crude prices is improving commodity-linked support for the Canadian dollar and limiting a stronger move higher in the pair.
• Canadian jobs data is approaching: Friday’s employment change and unemployment rate will be closely watched for evidence that Canada’s labour market can support a firmer domestic rate outlook.

Today's currency headlines

• USD: US dollar extends its strength as hawkish Fed minutes and rising yields reinforce expectations that another rate hike could still arrive before year-end.
• CAD: Canadian dollar steadies but remains vulnerable as broad USD demand outweighs recent domestic improvements, attention firmly on Friday’s jobs report.
• EUR: Euro remains choppy as French fiscal stress and elevated sovereign borrowing costs dominate sentiment, struggles continue against a resurgent dollar.
• GBP: Sterling outperforms the euro as expectations of a November BoE rate hike remain strong, but hawkish Fed signals keep GBP/USD under pressure.
• JPY: Yen finds some support as the BoJ highlights broader inflation pressures, but high US yields and fiscal outlook concerns restrict a stronger recovery.
• AUD: Australian dollar edges lower as renewed US dollar strength and rising global yields overshadow support from the RBA’s restrictive policy stance.