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

What's happening to the Canadian dollar today?

The Canadian dollar (CAD) is holding broadly steady after the Bank of Canada raised interest rates to 2.50%, keeping the prospect of further tightening in focus. The loonie remains supported by the more restrictive Canadian policy backdrop, although markets are now looking to today’s manufacturing data for fresh evidence on domestic economic momentum. USD/CAD is also being influenced by a slightly softer US dollar as improving risk sentiment limits demand for the greenback.

• Canadian manufacturing data could drive CAD: Stronger activity would reinforce confidence in the domestic economy and could support further loonie gains.
• Further BoC tightening remains possible: Persistent inflation pressures could keep another Canadian rate increase in play and provide continued support for CAD.
• US manufacturing data could shift USD direction: Stronger ISM figures could help the dollar recover, while weaker activity may extend its current softness.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of November 2, 2026, USD/CAD is trading at 1.3982, representing a -0.03% shift in the last 24 hours. Today, the pair has traded within the 1.3982-1.3986 range.

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

The Canadian dollar's worth today is approximately US$0.7152, €0.6391, £0.5336, ¥112.83, CHF0.5846 and A$1.0218. 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 US dollar (+0.03%), gaining against the Japanese yen (+0.09%), New Zealand dollar (+0.15%) and Australian dollar (+0.32%) while losing ground against the euro (-0.36%), British pound (-0.16%), Chinese yuan (-0.38%), Mexican peso (-1.93%), Indian rupee (-0.40%) and Swiss franc (-0.90%). CAD’s strongest move among the displayed crosses is against the Australian dollar, 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 relatively soft as the Canadian dollar stays supported by the Bank of Canada’s rate hike while the US dollar edges lower. The CAD to USD rate continues to benefit from Canada’s more restrictive monetary-policy backdrop, although fresh manufacturing data will help determine whether that support can continue. Meanwhile, the US dollar rate today is slightly weaker as improved risk sentiment reduces demand for the greenback ahead of key US manufacturing data.

• The BoC rate hike continues to support CAD: Canada’s increase to 2.50% keeps the loonie’s monetary-policy backdrop relatively firm.
• Further tightening remains in focus: Persistent inflation could encourage the Bank of Canada to raise rates again.
• USD edges lower: Improving risk sentiment is reducing some demand for the US dollar.
• Manufacturing data is today’s key catalyst: Canadian PMI and US ISM figures could determine whether USD/CAD extends lower or begins to recover.

Today's currency headlines

• USD: US dollar edges lower as improving risk sentiment weighs on demand, with today’s manufacturing PMIs and Tuesday’s US midterm elections now in focus.
• CAD: Loonie holds broadly steady after the BoC’s rate hike to 2.50%, with today’s Canadian manufacturing PMI providing the next test of domestic momentum.
• EUR: Euro strengthens despite German retail sales miss, as lower oil and continued expansion in German manufacturing help offset weaker consumer spending.
• GBP: Sterling holds steady as markets increasingly expect the Bank of England to raise rates to 4.0% on Thursday amid persistent inflation pressures.
• JPY: Yen softens slightly despite the BoJ signalling progress toward achieving 2% CPI, with expectations for another hike in December remaining elevated.
• AUD: Aussie dips ahead of Tuesday’s RBA decision, while firmer inflation indicators and stronger building approvals reinforce expectations for another hike.