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

What's happening to the Canadian dollar today?

The Canadian dollar (CAD) remains near a five-week high after Canadian retail sales rose 1.2% in August, reinforcing expectations that the Bank of Canada could raise rates at Wednesday’s meeting. Stronger consumer spending has improved the domestic backdrop and helped keep CAD supported. Meanwhile, the US dollar is trading slightly softer as markets prepare for Wednesday’s Federal Reserve decision, where rates are widely expected to remain unchanged.

• The BoC decision could drive the next CAD move: A rate hike or more hawkish guidance could extend the loonie’s recent gains and push USD/CAD lower.
• Canadian economic momentum remains important: Further evidence of resilient domestic activity could strengthen expectations for tighter Bank of Canada policy.
• The Fed decision could shift USD direction: A more hawkish Fed message could support the dollar, while cautious guidance may keep USD under pressure.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of October 26, 2026, USD/CAD is trading at 1.4052, representing a 0.36% shift in the last 24 hours. Today, the pair has traded within the 1.3998-1.4055 range.

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

The Canadian dollar's worth today is approximately US$0.7116, €0.6364, £0.5335, ¥112.04, CHF0.5884 and A$1.0140. 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 Swiss franc (-0.05%), gaining against the Japanese yen (+0.05%) and New Zealand dollar (+0.09%) while losing ground against the US dollar (-0.36%), euro (-0.17%), British pound (-0.10%), Chinese yuan (-0.39%), Mexican peso (-0.60%), Indian rupee (-0.16%) and Australian dollar (-0.19%). CAD’s strongest move among the displayed crosses is against the New Zealand dollar, 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 USD/CAD rising or falling today?

USD/CAD remains under pressure as stronger Canadian retail sales and expectations for a Bank of Canada rate hike support CAD, while the US dollar trades slightly softer. The CAD to USD rate continues to benefit from improving Canadian economic momentum after retail sales increased 1.2% in August. At the same time, the US dollar rate today remains subdued as markets position for Wednesday’s Federal Reserve decision.

• Canadian retail sales support CAD: The 1.2% increase in August points to stronger household spending and a more resilient domestic economy.
• BoC rate expectations favour the loonie: Markets remain focused on the possibility of tighter Canadian monetary policy at Wednesday’s meeting.
• USD trades slightly softer: The dollar lacks stronger momentum as investors position ahead of the Federal Reserve decision.
• Wednesday’s central-bank decisions are the key catalysts: The BoC and Fed announcements could determine whether USD/CAD extends lower or reverses its recent direction.

Today's currency headlines

• USD: US dollar trades slightly softer as markets position for Wednesday’s Federal Reserve decision, with policymakers widely expected to keep rates unchanged.
• CAD: Loonie remains near a five-week high after Canadian retail sales rose 1.2% in August, strengthening expectations that the Bank of Canada could raise rates at Wednesday’s meeting.
• EUR: Euro strengthens after Moody’s maintains France’s Aa3 credit rating, easing immediate downgrade concerns and improving demand for French assets ahead of Thursday’s ECB decision.
• GBP: Sterling slips from Friday’s multi-month highs as investors turn cautious ahead of Wednesday’s UK Budget, with fiscal credibility and government borrowing plans firmly in focus.
• JPY: Yen trades slightly softer as markets await Friday’s Bank of Japan decision, where rates are expected to remain unchanged but policymakers could signal further tightening ahead.
• AUD: Aussie holds around 0.7030 as markets await this week’s Australian inflation data, with persistent price pressures keeping expectations for another RBA rate hike elevated.