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

What's happening to the Canadian dollar today?

Canadian dollar news - The Canadian dollar (CAD) remains cautious after mixed domestic activity data offered no clear signal that Canada’s economy is regaining momentum. Wholesale sales declined while manufacturing sales improved, leaving markets focused on today’s housing starts for another read on domestic conditions. USD/CAD is also benefiting from a softer US dollar after Fed Chair Kevin Warsh avoided signalling an October rate hike, with US industrial production now the next important US catalyst.

• Canadian housing data could shape CAD sentiment: Stronger housing starts could provide some reassurance about domestic activity, while a weak reading would reinforce concerns about Canada’s economic momentum.
• US industrial production could shift USD demand: Stronger factory and utility output could improve confidence in the US economy, while weaker activity may extend the dollar’s pullback.
• Fed expectations remain important for USD/CAD: Further signs that policymakers are comfortable delaying another hike could reduce USD support and give CAD more room to recover.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of October 16, 2026, USD/CAD is trading at 1.4138, representing a -0.33% shift in the last 24 hours. Today, the pair has traded within the 1.4134-1.4199 range.

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

The Canadian dollar's worth today is approximately US$0.7073, €0.6295, £0.5309, ¥111.70, CHF0.5827 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 Chinese yuan (-0.01%), Swiss franc (-0.03%) and Australian dollar (+0.01%), gaining against the US dollar (+0.33%), euro (+0.18%), Japanese yen (+0.35%), Mexican peso (+0.19%) and Indian rupee (+0.99%) while losing ground against the British pound (-0.07%) and New Zealand dollar (-0.19%). CAD’s strongest move among the displayed crosses is against the Indian rupee, while its largest decline is against the New Zealand dollar.

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 is easing as the US dollar loses momentum following cautious Fed guidance, although mixed Canadian economic data is limiting the loonie’s recovery. The US dollar rate today is being pressured by reduced expectations for an immediate Fed hike after Warsh avoided signalling action this month. Meanwhile, the CAD to USD outlook remains uncertain as declining wholesale sales offset stronger manufacturing activity, leaving today’s housing starts as the next Canadian test.

• Fed guidance weighs on USD: Warsh’s reluctance to signal an October hike has reduced expectations for immediate policy tightening.
• Canadian data remains mixed: Falling wholesale sales point to softer demand, while stronger manufacturing sales offer some evidence of resilience.
• Housing starts are the next CAD test: Today’s figures could provide a clearer indication of whether housing activity is holding up amid broader economic weakness.
• US industrial production is in focus: The release will offer a fresh read on US economic momentum and could determine whether the dollar extends its decline or finds renewed support.

Today's currency headlines

• USD: US dollar weakens as Fed Chair Warsh avoids signalling an October hike, shifting focus to today’s industrial data for the next read on US economic momentum.
• CAD: Loonie remains cautious after mixed Canadian activity data showed wholesale sales falling while manufacturing sales improved, all eyes on housing starts.
• EUR: Euro extends recovery from recent lows as Bundesbank President keeps the possibility of ECB hike alive, but France’s fiscal concerns remain a drag.
• GBP: Sterling pushes to a multi-week high on resilient growth and BoE hike bets, while Governor Bailey keeps a close eye on energy-driven inflation risks.
• JPY: Yen gains support after BoJ Governor Ueda warns that underlying inflation could overshoot the 2% target, reinforcing BoJ tightening expectations.
• AUD: Aussie remains near a three-month low after September employment disappoints and unemployment rises, leaving inflation data crucial for the RBA’s next move.