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Daily brief - Loonie falls amid USD rebound ahead of expected BoC hold
Canadian dollar rate today is weakening against USD, EUR, JPY and AUD while remaining broadly steady against GBP. Escalating Middle East tensions are driving investors toward safe-haven currencies, while uncertainty before today’s Bank of Canada decision is limiting CAD demand. Elevated oil prices are providing some support, but US ADP employment data, the BoC statement and Governor Macklem’s press conference are the immediate catalysts.
USD/CAD
Current Rate:
1.3839
Last updated:Sep 02, 2026, 02:20 p.m. ET
Actual Trading range
1.38361.3940
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Today's currency headlines
- USD: US dollar pushes higher as escalating Middle East tensions drive safe-haven demand, while ADP employment expected to show subdued job growth in August.
- CAD: Canadian dollar trades near multi-week lows as USD strength dominates before an expected BoC hold, despite sticky inflation and elevated oil prices.
- EUR: Euro slides to a two-week low as higher energy costs threaten eurozone growth, although firm ECB rate expectations limit deeper losses for now.
- GBP: Sterling retreats near a two-week low against the greenback as surging gilt yields intensify UK fiscal concerns, outweighing potential carry support.
- JPY: Yen strengthens as hawkish BoJ guidance and risk aversion provide support, with manufacturing and services PMIs offering the next domestic test.
- AUD: Australian dollar remains cautious as higher global yields offset domestic rate support, with manufacturing, services and trade data due next.
Canadian dollar (CAD) daily performance against major global currencies
Updated: Sep 02, 2026, 02:20 p.m. ET
The Canadian dollar is essentially unchanged against none, gaining against the US dollar, euro, British pound, Chinese yuan, Mexican peso, Indian rupee, Swiss franc and Australian dollar while losing ground against the none. CAD’s strongest move among the displayed crosses is against the New Zealand dollar, while its largest decline is against the Japanese yen.
USD / CAD
Current Rate
1.3839
Daily Change
-0.40%
EUR / CAD
Current Rate
1.6034
Daily Change
-0.48%
GBP / CAD
Current Rate
1.8666
Daily Change
-0.61%
CAD / JPY
Current Rate
114.83
Daily Change
-0.32%
CAD / CNY
Current Rate
4.8556
Daily Change
0.39%
CAD / MXN
Current Rate
12.27
Daily Change
0.41%
CAD / INR
Current Rate
68.24
Daily Change
0.06%
NZD / CAD
Current Rate
0.8090
Daily Change
-1.22%
CAD / CHF
Current Rate
0.5876
Daily Change
0.62%
AUD / CAD
Current Rate
0.9921
Daily Change
-0.10%
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What is driving the Canadian dollar today?
Current Exchange Rate
Updated: Sep 02, 2026, 02:20 p.m. ET
USD/CAD Historical Exchange Rates
Daily change
−0.40%Weekly change
−0.11%Monthly change
−1.23%3 months change
0.00%6 months change
+1.21%Yearly change
+0.41%We use mid-market rates. This is for informational purposes only.
As of September 2, 2026, USD/CAD is trading at 1.3839, representing a -0.40% shift in the last 24 hours. The pair is likely to trade within the 1.3836-1.3940 range.
USD/CAD is moving higher as escalating Middle East tensions support safe-haven demand for USD while investors remain cautious before the BoC decision. The US dollar rate today is near a two-week high as rising energy prices reinforce US inflation and interest-rate expectations.
Elevated oil is cushioning CAD, but broader risk aversion and Canadian policy uncertainty continue to weaken the CAD to USD backdrop. Direction now depends on the ADP report, the BoC statement and Governor Macklem’s assessment of inflation, growth and trade risks.
- ADP will test US labour-market concerns: Subdued private-sector hiring is expected, with a stronger result likely to reinforce Fed tightening expectations and support USD/CAD.
- BoC rates are expected to remain unchanged: Markets anticipate another hold at 2.25%, placing greater importance on the Bank’s assessment of persistent inflation and economic momentum.
- Oil is providing only partial CAD support: Elevated crude prices benefit Canada’s terms of trade but are also increasing global inflation concerns and supporting higher US yields.
- Trade uncertainty remains a Canadian risk: Escalating US-Canada tensions could weaken business confidence and encourage cautious BoC guidance despite recent economic resilience.
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Upcoming USD/CAD economic events
Economic calendar as of Sep 02, 2026, 02:20 p.m. ET
- US ADP Nonfarm Employment Change: Estimates private-sector hiring, with stronger job growth generally supporting USD ahead of Friday’s official payrolls report.
- Canada BoC Interest Rate Decision: Sets Canada’s policy rate, with hawkish guidance generally supporting CAD even if the Bank leaves rates unchanged.
- US Factory Orders: Measures new orders placed with US manufacturers, with stronger demand generally supporting the US dollar.
- Canada BoC Press Conference: Explains the policy decision, with comments on inflation, growth and trade likely to influence CAD.
EventImpact
Initial Jobless Claims
High
Trade Balance (Jul)
Medium
Trade Balance (Jul)
Medium
S&P Global Services PMI (Aug, Final)
Medium
ISM Services PMI (Aug)
High
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 2, 2026
EUR/CAD news and daily outlook
EUR/CAD is edging higher as caution ahead of the BoC decision pressures CAD more heavily than rising energy costs weigh on EUR. Hawkish BoC guidance could reverse the move, while a cautious message may extend euro gains.
Current rate
1.6034 -0.48%
Low1.6033
High1.6136
Trading Range1.6033-1.6136
GBP/CAD news and daily outlook
GBP/CAD is broadly steady as UK fiscal concerns offset Canadian-dollar weakness ahead of the BoC decision. Elevated oil supports CAD, but cautious BoC guidance could allow sterling to move higher.
Current rate
1.8666 -0.61%
Low1.8663
High1.8829
Trading Range1.8663-1.8829
CAD/JPY news and daily outlook
Yen is strengthening against CAD as hawkish BoJ signals and risk aversion outweigh oil-related support for the Canadian dollar. A hawkish BoC could limit yen gains, while cautious guidance may push CAD/JPY lower.
Current rate
114.83 -0.32%
Low113.79
High115.38
Trading Range113.79-115.38
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FAQs
As of September 2, 2026, USD/CAD is trading at 1.3839, meaning one US Dollar buys approximately 1.3839 CAD.
The USD to CAD exchange rate is 1.3839. The pair opened at 1.3895 and has moved -0.40% today.
USD/CAD is down by -0.40% 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 -0.40%, 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 -1.23% over the past month and +0.86% 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.
