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

What's happening to the Canadian dollar today?

Canadian dollar news - The Canadian dollar (CAD) is finding limited relief as the US dollar eases from recent highs, but the broader USD/CAD backdrop remains tilted in favour of the greenback. US Treasury yields remain elevated, oil prices have slipped from recent peaks, and markets are focused on whether today’s US employment report will reinforce expectations for further Federal Reserve tightening.

• Payrolls could reset Fed expectations: A stronger-than-expected US jobs report would reinforce the case for additional Fed tightening and could quickly restore upward pressure on USD/CAD.
• Unemployment and wages will shape the next move: Markets will look beyond headline payrolls to the unemployment rate and earnings growth for signs that labour conditions remain tight enough to sustain inflation pressure.
• Oil remains a key CAD risk: Crude prices have eased from recent highs, reducing some of the commodity support that helped cushion the Canadian dollar earlier in the week.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of October 2, 2026, USD/CAD is trading at 1.4240, representing a 0.13% shift in the last 24 hours. Today, the pair has traded within the 1.4209-1.4246 range.

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

The Canadian dollar's worth today is approximately US$0.7023, €0.6255, £0.5318, ¥110.71, CHF0.5808 and A$1.0109. 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 none, gaining against the none while losing ground against the US dollar (-0.13%), euro (-0.05%), British pound (-0.26%), Japanese yen (-0.39%), Chinese yuan (-0.52%), Mexican peso (-0.67%), Indian rupee (-0.75%), New Zealand dollar (-0.32%), Swiss franc (-0.57%) and Australian dollar (-0.41%). CAD’s strongest move among the displayed crosses is against the euro, while its largest decline is against the Indian rupee.

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 easing modestly as the US dollar pulls back ahead of the employment report, but high Treasury yields and a still-hawkish Fed backdrop continue to favour USD overall. The US dollar rate today is consolidating as markets await confirmation that the labour market remains resilient, while the CAD to USD backdrop is receiving less support from oil after crude prices retreated. A strong payrolls or wage reading could quickly push USD/CAD higher again, while softer labour data could deepen the current pullback.

• Dollar pauses before payrolls: Traders are trimming some USD positions ahead of the jobs report after the greenback’s strong recent advance.
• Treasury yields remain a major support: Elevated US yields continue to preserve a meaningful rate advantage for USD despite the latest pullback.
• Fed tightening remains on the table: Resilient labour data would keep attention on persistent inflation and support expectations that US rates may need to remain restrictive for longer.
• Weaker oil limits CAD upside: Crude prices have retreated from recent highs, reducing an important source of commodity-linked support for the Canadian dollar.

Today's currency headlines

• USD: US dollar eases slightly after a strong week as markets trim positions ahead of critical nonfarm payrolls expected to drive the next Fed repricing.
• CAD: Canadian dollar finds some relief as the USD pauses, but softer oil and a still-wide US-Canada yield gap keep loonie vulnerable ahead of the US jobs data.
• EUR: Euro pushes modestly higher as firmer eurozone inflation strengthens the case for restrictive ECB policy, while a softer USD provides additional support.
• GBP: Sterling remains resilient as solid UK economic momentum supports the pound, while the modest pullback in the US dollar helps GBP recover some ground.
• JPY: Yen rebounds from weekly lows as stronger Tokyo inflation reinforces expectations that the Bank of Japan could continue normalizing monetary policy.
• AUD: Australian dollar stabilizes as greenback retreats, although a weaker trade backdrop and cautious risk sentiment limit the currency’s upside.