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

What's happening to the Canadian dollar today?

Canadian dollar news - The Canadian dollar (CAD) is holding relatively steady after stronger Canadian trade data and an expansionary Ivey PMI provided some domestic support. However, USD/CAD remains elevated as rising US Treasury yields and continued demand for the US dollar preserve a significant rate advantage. Markets are now turning to tonight’s FOMC meeting minutes for clearer signals on how long US policy may remain restrictive.

• FOMC minutes could reset Fed expectations: A more hawkish account of the September meeting could strengthen expectations for further tightening and renew upward pressure on USD/CAD.
• US yields remain the key USD driver: Any further rise in Treasury yields would increase the dollar’s relative appeal and make it harder for CAD to extend its recent stabilization.
• Canadian labour data is the next major CAD test: Friday’s employment change and unemployment rate will determine whether stronger recent data can develop into a more convincing Canadian recovery.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of October 7, 2026, USD/CAD is trading at 1.4258, representing a 0.36% shift in the last 24 hours. Today, the pair has traded within the 1.4202-1.4281 range.

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

The Canadian dollar's worth today is approximately US$0.7014, €0.6264, £0.5308, ¥110.82, CHF0.5844 and A$1.0071. 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 New Zealand dollar (-0.02%), gaining against the euro (+0.18%), British pound (+0.07%) and Indian rupee (+0.07%) while losing ground against the US dollar (-0.36%), Japanese yen (-0.39%), Chinese yuan (-0.35%), Mexican peso (-0.90%), Swiss franc (-0.13%) and Australian dollar (-0.13%). CAD’s strongest move among the displayed crosses is against the euro, 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 the USD/CAD rising or falling today?

USD/CAD remains elevated as rising US Treasury yields and continued dollar demand outweigh the Canadian dollar’s improvement following stronger domestic data. The US dollar rate today is supported by expectations that Federal Reserve policy will remain restrictive, while the CAD to USD backdrop has improved modestly after stronger trade figures and an expansionary Ivey PMI. Tonight’s FOMC minutes could determine whether the pair resumes its climb or gives CAD more room to recover.

• Treasury yields favour USD: Higher US yields continue to widen the relative return advantage of dollar-denominated assets and keep USD/CAD supported.
• Canadian data offers CAD some relief: Stronger trade results and continued expansion in the Ivey PMI have improved the domestic backdrop and helped limit further CAD weakness.
• Fed policy remains the dominant risk: Markets are looking to the FOMC minutes for clues on inflation concerns, rate expectations and policymakers’ willingness to tighten further.
• Friday’s jobs report could shift the CAD outlook: Canadian employment and unemployment figures will be closely watched for evidence that the labour market can support a firmer Bank of Canada outlook.

Today's currency headlines

• USD: US dollar strengthens as rebound in yields and geopolitical uncertainty reinforce demand, with tonight’s FOMC minutes set to shape Fed expectations.
• CAD: Canadian dollar holds steady after stronger trade data and Ivey PMI, but softer momentum versus the previous month limits the upside potential.
• EUR: Euro remains under heavy pressure as France’s fiscal concerns, rising sovereign yields and reduced bets for ECB tightening keep sentiment fragile.
• GBP: Sterling trades mixed as expectations of a November BoE rate hike strengthen, while persistent UK inflation keeps the policy backdrop supportive.
• JPY: Yen remains under pressure as elevated US yields and expectations of additional Japanese fiscal spending outweigh hawkish Bank of Japan support.
• AUD: Aussie stable as the RBA’s restrictive policy stance provides support, although renewed USD strength and higher global yields limit upside.