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Daily brief - Canadian dollar strengthens as oil rally offsets trade risk
The Canadian dollar rate today is firmer against USD, EUR, GBP and AUD as surging oil prices support Canada’s commodity-linked currency. CAD remains weaker against JPY as aggressive BoJ tightening expectations reinforce yen demand. US–Canada trade tensions and broader risk aversion are limiting the loonie’s gains, while today’s weekly ADP employment and consumer credit data precede Friday’s more consequential US CPI release.
USD/CAD
Current Rate:
1.3790
Last updated:Sep 08, 2026, 12:32 p.m. ET
Actual Trading range
1.37601.3815
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Today's currency headlines
- USD: US dollar trades cautiously before weekly ADP employment and consumer credit data, while Friday’s CPI remains the week’s decisive Fed catalyst.
- CAD: Canadian dollar firms as surging oil strengthens its energy-linked appeal, although renewed trade tensions and broader risk aversion limit gains.
- EUR: Euro edges lower as weak French trade figures offset Germany’s larger-than-forecast surplus, while elevated energy costs cloud the regional outlook.
- GBP: Sterling struggles for momentum as markets await BoE testimony, with fiscal reassurance providing limited support amid rising energy costs.
- JPY: Yen extends its rally as strong wage growth reinforces aggressive BoJ tightening expectations, while risk aversion adds safe-haven demand.
- AUD: Australian dollar holds near multi-month highs as hawkish RBA expectations offset weaker domestic confidence and cautious global risk sentiment.
Canadian dollar (CAD) daily performance against major global currencies
Updated: Sep 08, 2026, 12:32 p.m. ET
The Canadian dollar is essentially unchanged against none, gaining against the US dollar, euro, British pound, Japanese yen, Indian rupee, Swiss franc and Australian dollar while losing ground against the Mexican peso. CAD’s strongest move among the displayed crosses is against the New Zealand dollar, while its largest decline is against the Chinese yuan.
USD / CAD
Current Rate
1.3790
Daily Change
-0.17%
EUR / CAD
Current Rate
1.6028
Daily Change
-0.18%
GBP / CAD
Current Rate
1.8665
Daily Change
-0.21%
CAD / JPY
Current Rate
111.87
Daily Change
0.19%
CAD / CNY
Current Rate
4.8497
Daily Change
-0.44%
CAD / MXN
Current Rate
12.27
Daily Change
-0.43%
CAD / INR
Current Rate
68.73
Daily Change
0.50%
NZD / CAD
Current Rate
0.8070
Daily Change
-0.55%
CAD / CHF
Current Rate
0.5868
Daily Change
0.18%
AUD / CAD
Current Rate
0.9952
Daily Change
-0.13%
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What is driving the Canadian dollar today?
Current Exchange Rate
Updated: Sep 08, 2026, 12:32 p.m. ET
USD/CAD Historical Exchange Rates
Daily change
−0.17%Weekly change
−0.34%Monthly change
−1.04%3 months change
−1.16%6 months change
+1.70%Yearly change
−0.09%We use mid-market rates. This is for informational purposes only.
As of September 8, 2026, USD/CAD is trading at 1.3790, representing a -0.17% shift in the last 24 hours. The pair is likely to trade within the 1.3760-1.3815 range.
USD/CAD is moving lower as surging oil prices strengthen CAD while the US dollar remains cautious ahead of Friday’s inflation report. The US dollar rate today is struggling to capitalize on hawkish Fed expectations as markets await weekly ADP employment and consumer credit data.
Higher crude prices improve Canada’s terms-of-trade backdrop and support the CAD to USD rate, although trade tensions and geopolitical safe-haven demand could restrict further CAD gains.
- Oil provides direct support for CAD: Crude prices are approaching $100 amid Middle East supply concerns, strengthening the outlook for Canada’s energy exports.
- ADP offers the latest US labour signal: Stronger weekly employment growth could reinforce hawkish Fed expectations, while a weaker figure may pressure USD.
- Consumer credit will test spending resilience: Stronger borrowing could support the US growth outlook, although the release typically has a limited immediate FX impact.
- Friday’s CPI remains the decisive catalyst: Higher inflation would strengthen the case for tighter Fed policy, while softer data could extend USD/CAD’s decline.
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Upcoming USD/CAD economic events
Economic calendar as of Sep 08, 2026, 12:32 p.m. ET
- US ADP Employment Change Weekly: Tracks the four-week average change in private employment, with stronger job growth generally supporting USD.
- US Consumer Credit: Measures changes in household borrowing, with stronger credit growth suggesting resilient consumer demand and potentially supporting USD.
EventImpact
Consumer Credit (Jul)
Medium
Producer Price Index MoM (Aug)
High
Initial Jobless Claims
High
Existing Home Sales (Aug)
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 September 8, 2026
EUR/CAD news and daily outlook
EUR/CAD is moving lower as oil-driven CAD demand outweighs Germany’s stronger trade surplus, while France’s disappointing trade balance weighs on EUR. Thursday’s ECB decision may limit euro weakness, but elevated energy costs remain a challenge for the eurozone outlook.
Current rate
1.6028 -0.18%
Low1.5998
High1.6058
Trading Range1.5998-1.6058
GBP/CAD news and daily outlook
GBP/CAD is edging lower as oil strength supports CAD, while sterling struggles for momentum before testimony from BoE policymakers. UK fiscal reassurance may cushion GBP, although geopolitical risk and rising energy costs keep the near-term outlook cautious.
Current rate
1.8665 -0.21%
Low1.8648
High1.8710
Trading Range1.8649-1.8710
CAD/JPY news and daily outlook
Yen is strengthening against CAD as robust Japanese wage growth reinforces expectations for an aggressive BoJ tightening cycle. Oil remains supportive for CAD, but sustained yen demand and risk aversion keep CAD/JPY biased lower.
Current rate
111.87 0.19%
Low110.77
High112.01
Trading Range110.77-112.01
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FAQs
As of September 8, 2026, USD/CAD is trading at 1.3790, meaning one US Dollar buys approximately 1.3790 CAD.
The USD to CAD exchange rate is 1.3790. The pair opened at 1.3814 and has moved -0.17% today.
USD/CAD is down by -0.17% 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 -0.17%, 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 -1.04% over the past month and +0.50% year-to-date. It is currently trading below its 50-day moving average of 1.4000. 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.
