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Daily brief - Canadian dollar strengthens after hawkish BoC hold
The Canadian dollar rate today is broadly stronger, gaining against USD, EUR, GBP and AUD while weakening sharply against JPY. CAD is supported by the BoC’s increased concern about inflation, higher oil prices and broad US dollar weakness. Today’s Canadian trade balance and the US labour, trade and services data will determine whether the gains can continue.
USD/CAD
Current Rate:
1.3784
Last updated:Sep 03, 2026, 04:18 p.m. ET
Actual Trading range
1.37651.3848
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Today's currency headlines
- USD: US dollar declines across major currencies as yields ease, with jobless claims, trade figures and services PMIs set to test sentiment today.
- CAD: Canadian dollar strengthens after the BoC’s hawkish hold and firmer oil prices, with today’s trade balance providing the next domestic test.
- EUR: Euro remains pressured after weaker PMIs signalled slowing activity, while stronger producer prices and a softer US dollar limit deeper losses.
- GBP: Sterling remains soft after UK PMIs missed forecasts, although broad US dollar weakness is limiting the currency’s downside.
- JPY: Yen surges as hawkish BoJ repricing strengthens rate hike expectations, reinforcing gains as the US dollar retreats across major currencies.
- AUD: Aussie holds broadly steady as a larger-than-expected trade surplus and hawkish RBA expectations offset cautious global risk sentiment.
Canadian dollar (CAD) daily performance against major global currencies
Updated: Sep 03, 2026, 04:18 p.m. ET
The Canadian dollar is essentially unchanged against none, gaining against the US dollar, euro, British pound, Chinese yuan and Mexican peso while losing ground against the New Zealand dollar, Swiss franc and Australian dollar. CAD’s strongest move among the displayed crosses is against the Indian rupee, while its largest decline is against the Japanese yen.
USD / CAD
Current Rate
1.3784
Daily Change
-0.39%
EUR / CAD
Current Rate
1.6024
Daily Change
-0.07%
GBP / CAD
Current Rate
1.8640
Daily Change
-0.09%
CAD / JPY
Current Rate
113.02
Daily Change
-1.40%
CAD / CNY
Current Rate
4.8737
Daily Change
0.36%
CAD / MXN
Current Rate
12.28
Daily Change
0.05%
CAD / INR
Current Rate
68.59
Daily Change
0.55%
NZD / CAD
Current Rate
0.8106
Daily Change
0.15%
CAD / CHF
Current Rate
0.5859
Daily Change
-0.18%
AUD / CAD
Current Rate
0.9925
Daily Change
0.05%
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What is driving the Canadian dollar today?
Current Exchange Rate
Updated: Sep 03, 2026, 04:18 p.m. ET
USD/CAD Historical Exchange Rates
Daily change
−0.39%Weekly change
−0.51%Monthly change
−1.86%3 months change
−0.81%6 months change
+0.77%Yearly change
−0.06%We use mid-market rates. This is for informational purposes only.
As of September 3, 2026, USD/CAD is trading at 1.3784, representing a -0.39% shift in the last 24 hours. The pair is likely to trade within the 1.3765-1.3848 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.
USD/CAD is moving lower as hawkish Bank of Canada guidance, firm oil prices and broad US dollar weakness support CAD. The US dollar rate today is under pressure as easing Treasury yields reduce its interest-rate advantage, while the BoC’s increased concern about inflation has improved the CAD to USD backdrop. Today’s Canadian and US trade balances, jobless claims and US services PMIs will determine whether the decline extends.
- BoC guidance supports CAD: The Bank held its policy rate at 2.25% but said upside inflation risks have increased, leaving future policy adjustments open.
- Higher oil strengthens Canada’s backdrop: Firm crude prices can improve Canada’s terms of trade and provide support for the commodity-sensitive Canadian dollar.
- Trade data provide a direct comparison: A stronger Canadian balance relative to the US release could reinforce CAD gains, while a weaker result may limit them.
- US data could restore dollar demand: Lower jobless claims or stronger services activity could lift Treasury yields and help USD/CAD recover.
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Upcoming USD/CAD economic events
Economic calendar as of Sep 03, 2026, 04:18 p.m. ET
- US Initial Jobless Claims: Measures new weekly unemployment-benefit applications, with fewer claims generally supporting USD.
- US Trade Balance: Measures the difference between exports and imports, with a narrower deficit generally supporting USD.
- Canada Trade Balance: Measures export and import flows, with a larger surplus or narrower deficit generally supporting CAD.
- US S&P Global Services PMI: Tracks business activity across US services, with a stronger reading generally supporting USD.
- US ISM Services PMI: Gauges activity in the broader US services sector, with stronger growth typically supporting USD.
EventImpact
Nonfarm Payrolls (Aug)
High
Unemployment Rate (Aug)
High
Employment Change (Aug)
High
Unemployment Rate (Aug)
High
Ivey 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 3, 2026
EUR/CAD news and daily outlook
EUR/CAD is moving lower as hawkish BoC guidance and firm oil support CAD, while weaker eurozone PMIs limit the euro. Canadian trade data will guide near-term direction.
Current rate
1.6024 -0.07%
Low1.6007
High1.6054
Trading Range1.6007-1.6054
GBP/CAD news and daily outlook
GBP/CAD remains under downward pressure as Canadian-dollar strength outweighs limited sterling support from a weaker USD. Canadian trade figures and tomorrow’s labour reports are the next catalysts.
Current rate
1.8640 -0.09%
Low1.8605
High1.8669
Trading Range1.8606-1.8669
CAD/JPY news and daily outlook
Yen is strengthening sharply against CAD as hawkish BoJ repricing outweighs support for the Canadian currency from oil and BoC guidance. Further yen gains would keep CAD/JPY under pressure.
Current rate
113.02 -1.40%
Low112.52
High114.88
Trading Range112.52-114.88
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FAQs
As of September 3, 2026, USD/CAD is trading at 1.3784, meaning one US Dollar buys approximately 1.3784 CAD.
The USD to CAD exchange rate is 1.3784. The pair opened at 1.3838 and has moved -0.39% today.
USD/CAD is down by -0.39% 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 -0.39%, 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 -1.86% over the past month and +0.46% 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.
