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Daily brief - USD/CAD advances as Fed advantage and lower oil pressure CAD
USD/CAD is trading higher as hawkish Fed commentary and expectations of further tightening support USD, while falling crude prices reduce CAD’s commodity support. The pair remains near recent highs ahead of today’s US flash PMIs, with tomorrow’s Canadian retail sales and US jobless claims providing the next two-sided test.
USD/CAD
Current Rate:
1.4102
Last updated:Sep 23, 2026, 10:25 a.m. ET
Expected Trading range
1.40121.4145
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Today's currency headlines
- USD: US dollar extends gains as hawkish Fed comments reinforce tightening expectations, with today’s flash PMIs set to test economic resilience.
- CAD: Canadian dollar weakens as falling oil and the wider Fed-BoC rate gap outweigh BoC inflation caution, with retail sales due tomorrow.
- EUR: Euro remains pressured by broad USD strength, but a surprise acceleration in eurozone business activity strengthens the case for ECB tightening.
- GBP: Sterling slips as slower services growth offsets an unexpected manufacturing expansion, while USD strength keeps it near recent lows.
- JPY: Yen remains subdued as cautious BoJ guidance and wide US-Japan divergence outweigh intervention concerns, leaving it near two-week lows.
- AUD: Aussie declines after manufacturing activity slips into contraction and services slow, RBA rate hike expectations limit deeper losses.
Canadian dollar (CAD) daily performance against major global currencies
Updated: Sep 23, 2026, 10:25 a.m. ET
The Canadian dollar is essentially unchanged against none, gaining against the euro, British pound, Japanese yen, Mexican peso, New Zealand dollar and Swiss franc while losing ground against the US dollar and Indian rupee. CAD’s strongest move among the displayed crosses is against the Australian dollar, while its largest decline is against the Chinese yuan.
USD / CAD
Current Rate
1.4102
Daily Change
0.32%
EUR / CAD
Current Rate
1.6065
Daily Change
-0.19%
GBP / CAD
Current Rate
1.8693
Daily Change
-0.31%
CAD / JPY
Current Rate
112.24
Daily Change
0.31%
CAD / CNY
Current Rate
4.7454
Daily Change
-0.39%
CAD / MXN
Current Rate
12.39
Daily Change
0.75%
CAD / INR
Current Rate
67.90
Daily Change
-0.10%
NZD / CAD
Current Rate
0.8001
Daily Change
-0.61%
CAD / CHF
Current Rate
0.5847
Daily Change
0.25%
AUD / CAD
Current Rate
0.9924
Daily Change
-0.81%
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What is driving the Canadian dollar today?
Current Exchange Rate
Updated: Sep 23, 2026, 10:25 a.m. ET
USD/CAD Historical Exchange Rates
Daily change
+0.32%Weekly change
+0.79%Monthly change
+2.46%3 months change
−0.76%6 months change
+2.75%Yearly change
+1.94%We use mid-market rates. This is for informational purposes only.
As of September 23, 2026, USD/CAD is trading at 1.4102, representing a 0.32% shift in the last 24 hours. Today, the pair has traded within the 1.4054-1.4102 range.
USD/CAD is moving higher as a hawkish Fed outlook and falling oil prices favour USD over CAD. The US dollar rate today is strengthening as Fed officials reinforce the possibility of additional tightening, while the CAD to USD backdrop remains pressured by lower crude prices and Canada’s smaller policy rate. Today’s US flash PMIs will test the dollar’s economic support before tomorrow’s Canadian retail sales and US jobless claims.
- Fed guidance supports the dollar: Officials continue to emphasize persistent inflation risks, reinforcing expectations that additional US tightening may be required.
- Weekly hiring momentum improved: ADP estimated that private employers added an average of 20,000 jobs per week, accelerating for a third consecutive week.
- Falling oil weakens CAD support: Crude prices have declined on renewed US-Iran diplomacy hopes and easing concerns surrounding global energy supplies.
- Data provide two-sided event risk: Strong US PMIs could extend USD gains, while resilient Canadian retail sales tomorrow may help CAD recover.
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Upcoming USD/CAD economic events
Economic calendar as of Sep 23, 2026, 10:25 a.m. ET
Today’s focus is the US flash manufacturing and services PMIs, with both expected to remain in expansion territory. Stronger readings could support the USD by reinforcing a resilient US growth outlook, while weaker results may limit dollar demand.
EventImpact
Building Permits (Aug, Revised)
Medium
Initial Jobless Claims
High
Retail Sales MoM (Jul)
High
New Home Sales (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 23, 2026
EUR/CAD news and daily outlook
EUR/CAD is edging lower as mixed eurozone PMIs weigh on the euro, with weaker German manufacturing offsetting improved services activity. Softer oil may limit CAD support, while US PMIs provide the next catalyst.
Current rate
1.6065 -0.19%
Low1.6055
High1.6104
Trading Range1.6055-1.6104
GBP/CAD news and daily outlook
GBP/CAD remains pressured after UK services and composite PMIs missed forecasts, although stronger price pressures preserve expectations of further BoE tightening. Lower oil is limiting CAD demand ahead of US PMIs.
Current rate
1.8693 -0.31%
Low1.8676
High1.8770
Trading Range1.8676-1.8770
CAD/JPY news and daily outlook
Yen is weakening against CAD as cautious BoJ guidance offsets its recent rate increase, while wide yield differentials continue to restrict demand. Intervention concerns may limit deeper yen losses as markets await US PMIs.
Current rate
112.24 0.31%
Low111.84
High112.35
Trading Range111.84-112.35
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FAQs
As of September 23, 2026, USD/CAD is trading at 1.4102, meaning one US Dollar buys approximately 1.4102 CAD.
The USD to CAD exchange rate is 1.4102. The pair opened at 1.4057 and has moved 0.32% today.
USD/CAD is up by 0.32% 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 0.32%, 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 +2.46% over the past month and +2.77% 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.
