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

What's happening to the Canadian dollar today?

The Canadian dollar (CAD) is strengthening to around a six-week high following the Bank of Canada’s 25-basis-point rate hike to 2.50%. Expectations that further tightening may still be required are providing additional support for the loonie, while today’s Canadian GDP report will offer the next indication of domestic economic momentum. USD/CAD is also facing downward pressure as the US dollar edges lower despite strong US growth and firmer inflation data.

• Canadian GDP could drive the next CAD move: Stronger growth would reinforce the domestic outlook and could extend the loonie’s recent gains.
• Further BoC tightening remains in focus: Persistent inflation pressures could keep another Canadian rate increase on the table and support CAD.
• US data could shift USD momentum: Today’s employment-cost and Chicago PMI releases could influence expectations for the Fed’s next policy move.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of October 30, 2026, USD/CAD is trading at 1.3958, representing a -0.22% shift in the last 24 hours. Today, the pair has traded within the 1.3942-1.3991 range.

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

The Canadian dollar's worth today is approximately US$0.7164, €0.6419, £0.5350, ¥112.79, CHF0.5901 and A$1.0191. 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 Japanese yen (+0.02%) and Indian rupee (-0.04%), gaining against the US dollar (+0.22%), euro (+0.34%), British pound (+0.09%), Chinese yuan (+0.20%), New Zealand dollar (+0.19%), Swiss franc (+0.19%) and Australian dollar (+0.18%) while losing ground against the Mexican peso (-0.73%). 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 USD/CAD rising or falling today?

USD/CAD remains under pressure as the Canadian dollar strengthens following the BoC rate hike while the US dollar gives back some recent gains. The CAD to USD rate is benefiting from the Bank of Canada’s increase to 2.50% and indications that further tightening may still be necessary. Meanwhile, the US dollar rate today is slightly softer as markets reassess the Fed outlook following strong 3.4% GDP growth and firmer PCE inflation.

• The BoC rate hike supports CAD: Canada’s 25-basis-point increase has strengthened the loonie’s monetary-policy backdrop.
• CAD reaches around a six-week high: Expectations for further tightening continue to provide support for the Canadian dollar.
• USD edges lower: Markets are reassessing the Federal Reserve outlook despite strong US growth and firmer inflation.
• Canadian GDP is the next major catalyst: Today’s growth data could determine whether USD/CAD extends lower or begins to stabilize.

Today's currency headlines

• USD: US dollar edges lower as markets reassess the Fed outlook after strong 3.4% GDP growth and firmer PCE inflation, with today’s employment-cost and Chicago PMI data next in focus.
• CAD: Loonie strengthens to around a six-week high after the Bank of Canada’s rate hike to 2.50%, with today’s Canadian GDP report now the key test of economic momentum.
• EUR: Euro recovers after the ECB holds rates unchanged but warns that higher energy costs are increasing inflation risks, keeping a possible December rate hike firmly in play.
• GBP: Sterling steadies after the UK Budget causes limited market disruption, while easing government borrowing costs provide some support despite lingering fiscal concerns.
• JPY: Yen strengthens after the Bank of Japan holds rates at 1.25% but raises its inflation forecast and signals that further policy tightening remains likely.
• AUD: Aussie pulls back slightly from a five-week high but remains supported by 4.3% inflation and strong expectations that the RBA will raise rates again in November.