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Daily brief - Canadian dollar strengthens as US dollar hits fresh lows
The Canadian dollar rate today remains firm across major currencies, supported by persistent US dollar weakness and resilient demand for the loonie. CAD is extending its advantage over USD, while also pressuring the euro, pound, yen and Australian dollar as markets assess shifting rate expectations and ongoing geopolitical uncertainty. With key US and Canadian economic releases due today, the Canadian dollar is likely to remain sensitive to fresh signals on inflation, labour conditions and broader economic momentum.
USD/CAD
Current Rate:
1.3749
Last updated:Aug 21, 2026, 04:45 a.m. ET
Trading range
1.37491.3789
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Today's currency headlines
- USD: US dollar sinks to multi-month lows after the Treasury’s expanded long-term bond-buyback plan as semi-hawkish FOMC fails to lend support ahead of jobless claims.
- CAD: Canadian dollar hits fresh highs against greenback and maintains broader strength across major peers as markets eye today’s mid-tier industrial data releases.
- EUR: Euro struggles to hold its recovery against CAD despite German PPI reaching a three-year high, as persistent loonie strength keeps EUR/CAD under pressure.
- GBP: Sterling retreats from overnight highs against CAD and trades sideways despite broad USD weakness, Friday’s retail sales and PMI releases awaited for fresh direction.
- JPY: Yen’s recovery again proves short-lived even as the broader USD remains weak; rate gap continues to restrict demand ahead of national CPI release later today.
- AUD: Aussie slips from overnight peaks as renewed CAD strength weighs, fresh USD weakness and hawkish RBA help limit losses ahead of manufacturing and services PMIs.
Canadian dollar (CAD) daily performance against major global currencies
Updated: Aug 21, 2026, 04:45 a.m. ET
The Canadian dollar is essentially unchanged against euro and Japanese yen, gaining against the US dollar, British pound, Indian rupee and Swiss franc while losing ground against the New Zealand dollar and Australian dollar. CAD’s strongest move among the displayed crosses is against the Chinese yuan, while its largest decline is against the Mexican peso.
USD / CAD
Current Rate
1.3749
Daily Change
-0.29%
EUR / CAD
Current Rate
1.6091
Daily Change
-0.04%
GBP / CAD
Current Rate
1.8773
Daily Change
-0.06%
CAD / JPY
Current Rate
115.34
Daily Change
-0.03%
CAD / CNY
Current Rate
4.8996
Daily Change
0.38%
CAD / MXN
Current Rate
12.29
Daily Change
-0.69%
CAD / INR
Current Rate
69.60
Daily Change
0.22%
NZD / CAD
Current Rate
0.8218
Daily Change
0.45%
CAD / CHF
Current Rate
0.5815
Daily Change
0.16%
AUD / CAD
Current Rate
0.9846
Daily Change
0.49%
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What is driving the Canadian dollar today?
Current Exchange Rate
Updated: Aug 21, 2026, 04:45 a.m. ET
USD/CAD Historical Exchange Rates
Daily change
−0.29%Weekly change
−1.30%Monthly change
−2.54%3 months change
−0.20%6 months change
+0.56%Yearly change
−1.16%We use mid-market rates. This is for informational purposes only.
As of August 21, 2026, USD/CAD is trading at 1.3749, representing a -0.29% shift in the last 24 hours. The pair is likely to trade within the 1.3749-1.3789 range.
USD/CAD remains under pressure as broad US dollar weakness keeps near-term momentum tilted toward the Canadian dollar. The US dollar rate today remains vulnerable as markets reassess the Fed outlook, while persistent loonie strength continues to favour a firmer CAD to USD backdrop. Fresh US and Canadian economic data will now determine whether the pair extends its decline or finds room for a short-term recovery.
- US labour data comes into focus: Initial jobless claims will offer a fresh read on labour-market conditions and could influence expectations for the Fed’s next policy move.
- Manufacturing signals could move USD: The Philadelphia Fed Manufacturing Index will provide another gauge of US economic momentum and may add to intraday volatility.
- Canadian price data may reinforce CAD direction: The IPPI and RMPI releases will offer insight into domestic producer and raw-material price pressures.
- Oil remains an important loonie driver: Elevated crude prices amid Middle East uncertainty continue to provide underlying support for the commodity-sensitive Canadian dollar.
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Upcoming USD/CAD economic events
Economic calendar as of Aug 21, 2026, 04:45 a.m. ET
- Philadelphia Fed Manufacturing Index: Measures manufacturing activity in the Philadelphia region, with stronger readings generally supporting the US dollar and weaker readings tending to weigh on USD.
- Initial Jobless Claims: Tracks the number of Americans filing for unemployment benefits, with lower claims generally signalling a firmer labour market and supporting the US dollar.
- Industrial Product Price Index: Measures changes in the prices Canadian manufacturers receive for goods, with stronger price pressures potentially supporting CAD through firmer Bank of Canada expectations.
- Raw Materials Price Index: Tracks changes in the prices Canadian manufacturers pay for raw materials, with higher input costs potentially lifting inflation expectations and supporting the Canadian dollar.
EventImpact
Retail Sales MoM (Jun)
High
S&P Global Manufacturing PMI (Aug, Flash)
Medium
S&P Global Services PMI (Aug, Flash)
Medium
Economic calendar times are shown in ET. Event schedules and impact levels may change.
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Canadian dollar today against EUR, GBP & JPY
As of August 21, 2026
EUR/CAD news and daily outlook
The euro is struggling to hold its recovery against the Canadian dollar as firm CAD demand offsets support from upbeat German producer price data.
Current rate
1.6091 -0.04%
Low1.6078
High1.6107
Trading Range1.6078-1.6107
GBP/CAD news and daily outlook
The pound is easing from overnight highs against the Canadian dollar, with momentum limited as markets look ahead to fresh UK retail sales and PMI signals.
Current rate
1.8773 -0.06%
Low1.8758
High1.8802
Trading Range1.8758-1.8802
CAD/JPY news and daily outlook
The Canadian dollar remains firm against the yen as fading safe-haven demand and persistent interest-rate differentials keep JPY under pressure.
Current rate
115.34 -0.03%
Low115.25
High115.57
Trading Range115.25-115.57
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FAQs
As of August 21, 2026, USD/CAD is trading at 1.3749, meaning one US Dollar buys approximately 1.3749 CAD.
The USD to CAD exchange rate is 1.3749. The pair opened at 1.3789 and has moved -0.29% today.
USD/CAD is down by -0.29% today, with short-term market sentiment currently bearish. A falling USD/CAD rate indicates a stronger Canadian dollar, while a rising rate indicates a weaker Canadian dollar.
The USD/CAD typically responds to Fed and BoC interest-rate expectations, oil prices and economic data. Today, the pair is down by -0.29%, with a bearish short-term bias.
Because the bank or any FX provider you are using applies a margin on the mid-market exchange rate that you see on Google.
USD/CAD has moved -2.54% over the past month and +0.20% year-to-date. It is currently trading below its 50-day moving average of 1.4100. Whether it is a suitable time to convert depends on which currency you hold, your payment deadline and your tolerance for further movement.
Compare the total CAD received after the exchange rate spread and transfer fees. Rate alerts, limit orders, staged transfers and specialist FX providers may also help you manage the timing and overall cost of the conversion.
Open or sign in to your account, request a USD-to-CAD quote, add the recipient’s Canadian banking details and fund the transfer in US dollars. The funds are converted into Canadian dollars before being deposited into the recipient’s account.
