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Daily brief - Canadian dollar remains pressured after hawkish Fed shift
Canadian dollar rate today remains near six-week lows against USD and is also softer against EUR, GBP, JPY and AUD. Hawkish Federal Reserve guidance and declining oil prices are outweighing the BoC’s warning that broader fuel-driven inflation could require higher rates. Today’s US labour, manufacturing and housing releases will provide the next test for CAD.
USD/CAD
Current Rate:
1.3996
Last updated:Sep 17, 2026, 07:29 a.m. ET
Actual Trading range
1.39811.3998
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Today's currency headlines
- USD: US dollar holds near seven-week highs after the Fed hiked rates and signalled further tightening, while today’s US data test momentum.
- CAD: Canadian dollar remains near six-week lows as widening Fed-BoC policy divergence and easing oil outweigh the BoC’s warning on fuel inflation.
- EUR: Euro stays pressured after the Fed’s hawkish hike, although recent ECB tightening and expectations for another increase are limiting deeper losses.
- GBP: Sterling tumbles after BoE leaves rates unchanged for the sixth time in a row, Governor Bailey points to little evidence of material inflation effects.
- JPY: Yen rebounds from post-Fed losses as traders position for tomorrow’s expected BoJ hike, though elevated US yields continue to restrict gains.
- AUD: Aussie strengthens as hawkish RBA expectations and improving risk sentiment offset the Fed’s tighter outlook and a softer growth forecast.
Canadian dollar (CAD) daily performance against major global currencies
Updated: Sep 17, 2026, 07:29 a.m. ET
The Canadian dollar is essentially unchanged against British pound, Chinese yuan and Swiss franc, gaining against the none while losing ground against the US dollar, euro, Japanese yen, Mexican peso, Indian rupee and Australian dollar. CAD’s strongest move among the displayed crosses is against the British pound, while its largest decline is against the New Zealand dollar.
USD / CAD
Current Rate
1.3996
Daily Change
0.06%
EUR / CAD
Current Rate
1.6053
Daily Change
0.13%
GBP / CAD
Current Rate
1.8704
Daily Change
-0.04%
CAD / JPY
Current Rate
111.36
Daily Change
-0.29%
CAD / CNY
Current Rate
4.7914
Daily Change
-0.03%
CAD / MXN
Current Rate
12.30
Daily Change
-0.24%
CAD / INR
Current Rate
68.50
Daily Change
-0.21%
NZD / CAD
Current Rate
0.8025
Daily Change
0.46%
CAD / CHF
Current Rate
0.5902
Daily Change
0.01%
AUD / CAD
Current Rate
0.9949
Daily Change
0.38%
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What is driving the Canadian dollar today?
Current Exchange Rate
Updated: Sep 17, 2026, 07:29 a.m. ET
USD/CAD Historical Exchange Rates
Daily change
+0.06%Weekly change
+1.18%Monthly change
+0.88%3 months change
−0.73%6 months change
+2.23%Yearly change
+1.62%We use mid-market rates. This is for informational purposes only.
As of September 17, 2026, USD/CAD is trading at 1.3996, representing a 0.06% shift in the last 24 hours. The pair is likely to trade within the 1.3981-1.3998 range.
USD/CAD remains elevated as the Fed’s 25-basis-point rate increase and guidance favouring additional tightening strengthen USD relative to CAD. The US dollar rate today remains supported by the Fed’s renewed inflation focus, while declining crude prices and persistent trade uncertainty weaken the CAD to USD backdrop.
The BoC’s concern about broader fuel-driven inflation is limiting some CAD losses, leaving today’s US economic releases to determine whether USD/CAD can sustain a move above 1.4000.
- Fed guidance supports US yields: Rates increased to 3.75%–4.00%, with policymakers indicating that additional tightening may be required to contain inflation.
- BoC minutes complicate the policy gap: Canadian policymakers warned that higher rates could become necessary if elevated fuel costs spread into broader inflation.
- Oil provides less support for CAD: Crude prices are retreating as supply concerns ease, reducing a key source of demand for the Canadian currency.
- US data may confirm or challenge the move: Jobless claims, the Philadelphia Fed index, housing starts and building permits will test US economic resilience.
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Upcoming USD/CAD economic events
Economic calendar as of Sep 17, 2026, 07:29 a.m. ET
Today’s calendar offers several potential USD/CAD catalysts. Canadian industrial and raw-material prices will show whether elevated energy costs are feeding into producer inflation, while US jobless claims, the Philadelphia Fed index and housing releases will test economic resilience following the Fed’s rate increase. Strong US results could reinforce USD support, whereas hotter Canadian price data could strengthen BoC tightening expectations and support CAD.
EventImpact
Philadelphia Fed Manufacturing Index (Sep)
Medium
Initial Jobless Claims
High
Housing Starts (Aug)
Medium
Building Permits (Aug)
Medium
Industrial Product Price Index MoM (Aug)
Medium
Raw Materials Price Index MoM (Aug)
Medium
Pending Home Sales MoM (Aug)
Medium
Industrial Production MoM (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 17, 2026
EUR/CAD news and daily outlook
EUR/CAD retains a modest upward bias as recent ECB tightening supports EUR, while softer oil and Fed–BoC policy divergence weigh on CAD. Canadian producer-price data and US releases could shape near-term direction.
Current rate
1.6053 0.13%
Low1.6026
High1.6064
Trading Range1.6026-1.6064
GBP/CAD news and daily outlook
GBP/CAD remains supported after the BoE held rates at 3.75%, with three policymakers favouring an increase, while softer oil pressures CAD. Broader risk sentiment and Canadian data will guide the next move.
Current rate
1.8704 -0.04%
Low1.8681
High1.8758
Trading Range1.8681-1.8758
CAD/JPY news and daily outlook
Yen strengthens against CAD as markets position for tomorrow’s expected BoJ rate increase, while softer oil weakens the Canadian currency. Hawkish BoJ guidance could maintain downward pressure on CAD/JPY.
Current rate
111.36 -0.29%
Low111.15
High111.78
Trading Range111.15-111.78
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FAQs
As of September 17, 2026, USD/CAD is trading at 1.3996, meaning one US Dollar buys approximately 1.3996 CAD.
The USD to CAD exchange rate is 1.3996. The pair opened at 1.3988 and has moved 0.06% today.
USD/CAD is up by 0.06% today, with short-term market sentiment currently bullish. 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 up by 0.06%, with a bullish 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 +0.88% over the past month and +2.00% year-to-date. It is currently trading above its 50-day moving average of 1.3900. 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.
