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Daily brief - Canadian dollar steadies before joint employment reports
The Canadian dollar rate today is mixed, holding near recent highs against USD but edging lower against EUR, GBP, JPY and AUD before Canada’s employment report. Hawkish BoC guidance and elevated oil prices provide underlying support, while expectations for slower hiring after July’s strong increase create domestic risk. Simultaneous US and Canadian labour releases will determine whether CAD extends this week’s gains, with the Ivey PMI a secondary catalyst.
USD/CAD
Current Rate:
1.3832
Last updated:Sep 04, 2026, 05:38 p.m. ET
Actual Trading range
1.37841.3872
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Today's currency headlines
- USD: US dollar holds steady ahead of payrolls expected to rebound from July’s slump, with the result set to reshape September Fed expectations.
- CAD: Canadian dollar trades firm as elevated oil and hawkish BoC provide support, while domestic employment figures create significant two-way risk.
- EUR: Euro trades broadly steady as strong German factory orders offset caution before eurozone retail sales and the market-moving US payroll data.
- GBP: Sterling firms after hawkish BoE commentary, with Governor Bailey’s remarks and US payrolls providing the next tests for rate expectations.
- JPY: Yen remains on course for its strongest weekly gain in over a month as BoJ tightening expectations persist despite a modest pullback.
- AUD: Australian dollar edges higher near a three-month high, supported by hawkish RBA expectations and softer US yields ahead of payrolls.
Canadian dollar (CAD) daily performance against major global currencies
Updated: Sep 04, 2026, 05:38 p.m. ET
The Canadian dollar is essentially unchanged against Japanese yen, gaining against the none while losing ground against the US dollar, euro, British pound, Mexican peso, Indian rupee, New Zealand dollar, Swiss franc and Australian dollar. CAD’s strongest move among the displayed crosses is against the Japanese yen, while its largest decline is against the Chinese yuan.
USD / CAD
Current Rate
1.3832
Daily Change
0.27%
EUR / CAD
Current Rate
1.6067
Daily Change
0.21%
GBP / CAD
Current Rate
1.8712
Daily Change
0.30%
CAD / JPY
Current Rate
112.97
Daily Change
0.03%
CAD / CNY
Current Rate
4.8355
Daily Change
-1.02%
CAD / MXN
Current Rate
12.21
Daily Change
-0.41%
CAD / INR
Current Rate
68.22
Daily Change
-0.50%
NZD / CAD
Current Rate
0.8136
Daily Change
0.32%
CAD / CHF
Current Rate
0.5851
Daily Change
-0.05%
AUD / CAD
Current Rate
0.9973
Daily Change
0.49%
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What is driving the Canadian dollar today?
Current Exchange Rate
Updated: Sep 04, 2026, 05:38 p.m. ET
USD/CAD Historical Exchange Rates
Daily change
+0.27%Weekly change
−0.17%Monthly change
−1.64%3 months change
−0.55%6 months change
+1.38%Yearly change
+0.10%We use mid-market rates. This is for informational purposes only.
As of September 4, 2026, USD/CAD is trading at 1.3832, representing a 0.27% shift in the last 24 hours. The pair is likely to trade within the 1.3784-1.3872 range.
USD/CAD is consolidating near a two-week low as hawkish BoC guidance and elevated oil prices support CAD, while softer US yields limit dollar demand. The US dollar rate today is steady before nonfarm payrolls, which are expected to rebound from July’s contraction but still indicate modest hiring.
Canada’s employment report will provide the domestic side of the CAD to USD equation, making the relative strength of the two releases more important than either headline alone.
- US payrolls test Fed expectations: A strong rebound, particularly alongside firm wages or lower unemployment, could restore rate-hike expectations and support USD.
- Canadian hiring is expected to slow: Economists anticipate approximately 15,000 new jobs after July’s 75,000 increase, with unemployment forecast to remain at 6.4%.
- Policy signals currently favour CAD: The BoC emphasized upside inflation risks, while cautious Fed commentary recently reduced expectations of a September US rate increase.
- Oil and Ivey PMI provide secondary direction: Elevated crude prices support Canada’s trade-sensitive currency, while the Ivey PMI will offer another domestic activity signal.
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Upcoming USD/CAD economic events
Economic calendar as of Sep 04, 2026, 05:38 p.m. ET
- US Nonfarm Payrolls: Measures monthly job creation, with stronger hiring generally supporting USD by increasing expectations of tighter Fed policy.
- US Unemployment Rate: Tracks the proportion of the labour force without work, with a lower rate generally supporting the US dollar.
- Canada Employment Change: Measures net job creation, with stronger employment growth generally supporting CAD and pressuring USD/CAD lower.
- Canada Unemployment Rate: Tracks Canadian labour-market slack, with a lower-than-expected rate generally supporting the Canadian dollar.
- Canada Ivey PMI: Measures economy-wide purchasing activity, with a stronger reading generally supporting CAD.
EventImpact
ADP Employment Change Weekly
Medium
Consumer Credit Change (Jul)
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 4, 2026
EUR/CAD news and daily outlook
EUR/CAD is steady as strong German factory orders support EUR, while hawkish BoC guidance and elevated oil underpin CAD. Canadian employment figures will determine whether the pair moves lower or rebounds.
Current rate
1.6067 0.21%
Low1.5999
High1.6097
Trading Range1.5999-1.6097
GBP/CAD news and daily outlook
GBP/CAD remains balanced as hawkish BoE commentary supports sterling, while weaker UK construction activity and firm Canadian fundamentals limit gains. Canada’s employment report and Ivey PMI are today’s main pair catalysts.
Current rate
1.8712 0.30%
Low1.8609
High1.8734
Trading Range1.8609-1.8734
CAD/JPY news and daily outlook
Yen remains firmer against CAD after this week’s rally, despite easing slightly against USD as traders await payrolls. BoJ tightening expectations support yen, while Canadian jobs and oil could limit further gains.
Current rate
112.97 0.03%
Low112.02
High113.45
Trading Range112.02-113.45
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FAQs
As of September 4, 2026, USD/CAD is trading at 1.3832, meaning one US Dollar buys approximately 1.3832 CAD.
The USD to CAD exchange rate is 1.3832. The pair opened at 1.3794 and has moved 0.27% today.
USD/CAD is up by 0.27% 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 0.27%, 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 -1.64% over the past month and +0.80% 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.
