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 as weaker oil prices combine with a resilient US dollar and elevated Treasury yields to keep USD/CAD near multi-month highs. The greenback is still benefiting from persistent inflation concerns and a restrictive Fed outlook, while CAD is struggling to find support from commodities or the domestic growth backdrop. Today’s Canada and US trade data, alongside Canada’s Ivey PMI, will help determine whether that pressure persists.

• Canada’s trade data could set the next CAD tone: A stronger balance would improve the external-growth backdrop, while a weaker result could reinforce concerns about slowing demand and keep CAD under pressure.
• Ivey PMI could shape BoC expectations: A firmer October reading would support the case for greater economic resilience, while another weak print could strengthen expectations for a softer Bank of Canada path.
• Oil remains a key downside risk: Further weakness in crude prices would continue to erode commodity-linked support and leave CAD more exposed to the US yield advantage.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of October 6, 2026, USD/CAD is trading at 1.4228, representing a -0.22% shift in the last 24 hours. Today, the pair has traded within the 1.4223-1.4285 range.

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

The Canadian dollar's worth today is approximately US$0.7028, €0.6244, £0.5294, ¥111.08, CHF0.5841 and A$1.0073. 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 Australian dollar (-0.01%), gaining against the US dollar (+0.22%), Japanese yen (+0.31%), Indian rupee (+0.26%) and Swiss franc (+0.34%) while losing ground against the euro (-0.17%), British pound (-0.31%), Chinese yuan (-0.16%), Mexican peso (-0.38%) and New Zealand dollar (-0.21%). CAD’s strongest move among the displayed crosses is against the Swiss franc, while its largest decline is against the Mexican peso.

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 is pushing higher as weak oil prices and a softer Canadian policy outlook outweigh easing expectations for an immediate Fed hike. The US dollar rate today remains well supported by elevated Treasury yields and persistent inflation concerns, while the CAD to USD backdrop is being undermined by weaker crude prices and lingering concerns about Canadian growth. Today’s trade figures and Ivey PMI could determine whether the pair extends toward fresh highs or begins to consolidate.

• US yields remain a powerful USD driver: Treasury yields are holding near multi-decade highs, preserving a strong relative advantage for the greenback.
• Fed support remains intact: Expectations for an immediate hike have cooled, but markets still see US policy staying restrictive for longer as inflation remains stubborn.
• Oil weakness weighs on CAD: Softer crude prices are reducing one of the Canadian dollar’s most important sources of external support.
• Canadian data is now in focus: Trade balance and Ivey PMI will provide fresh evidence on domestic momentum and could influence near-term Bank of Canada expectations.

Today's currency headlines

• USD: US dollar gives back some recent gains as calmer bond markets reduce safe-haven demand, though upcoming Fed signals keep the greenback well supported.
• CAD: Loonie remains vulnerable as softer oil limits commodity support, today’s trade balance and Ivey PMI set to test whether domestic momentum can improve.
• EUR: Euro rebounds from recent lows as French bond yields ease and fiscal fears cool slightly, although broader eurozone concerns continue to cap the recovery.
• GBP: Sterling stays relatively firm against EUR as UK rate expectations remain supportive, while a stronger construction backdrop helps cushion pressure from USD
• JPY: Yen remains under pressure near weekly lows as high US yields continue to dominate, even as expectations of further BoJ tightening provides some support.
• AUD: Aussie steady as improved mood offsets lingering pressure from elevated global yields, while markets continue to assess the RBA’s restrictive policy stance.