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Daily brief - USD/CAD holds near multi-week highs as dollar demand persists
USD/CAD remains near its highest level since early August as the US dollar rate today benefits from expectations of further Federal Reserve tightening. The Canadian dollar rate today is receiving limited support from Macklem’s warning that persistent inflation could require higher rates, while trade tensions and softer oil continue to pressure CAD. Today’s weekly ADP employment estimate is the immediate catalyst.
USD/CAD
Current Rate:
1.4082
Last updated:Sep 23, 2026, 12:16 a.m. ET
Expected Trading range
1.40121.4128
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Today's currency headlines
- USD: US dollar holds near a seven-week high as hawkish Fed expectations persist, with today’s weekly ADP estimate providing the next labour-market signal.
- CAD: Canadian dollar remains near multi-week lows as trade tensions and softer oil outweigh Macklem’s warning that persistent inflation could require higher rates.
- EUR: Euro falls to a seven-week low as German political uncertainty and French debt concerns dominate before Lagarde’s policy remarks later today.
- GBP: Sterling softens as August public borrowing exceeds forecasts, reviving fiscal concerns while markets reassess the further BoE tightening bets.
- JPY: Yen remains subdued as cautious BoJ guidance and wide rate differentials outweigh intervention concerns, with Japanese markets closed for a holiday.
- AUD: Aussie strengthens as hawkish RBA commentary reinforces expectations of another hike, but geopolitical uncertainty and firm USD demand limit gains.
Canadian dollar (CAD) daily performance against major global currencies
Updated: Sep 23, 2026, 12:16 a.m. ET
The Canadian dollar is essentially unchanged against euro, British pound, Japanese yen, Swiss franc and Australian dollar, gaining against the New Zealand dollar while losing ground against the US dollar, Chinese yuan and Indian rupee. CAD’s strongest move among the displayed crosses is against the New Zealand dollar, while its largest decline is against the Mexican peso.
USD / CAD
Current Rate
1.4082
Daily Change
0.18%
EUR / CAD
Current Rate
1.6093
Daily Change
-0.02%
GBP / CAD
Current Rate
1.8754
Daily Change
0.01%
CAD / JPY
Current Rate
111.91
Daily Change
0.01%
CAD / CNY
Current Rate
4.7601
Daily Change
-0.08%
CAD / MXN
Current Rate
12.30
Daily Change
-0.61%
CAD / INR
Current Rate
67.88
Daily Change
-0.12%
NZD / CAD
Current Rate
0.8033
Daily Change
-0.22%
CAD / CHF
Current Rate
0.5833
Daily Change
0.01%
AUD / CAD
Current Rate
1.0003
Daily Change
-0.01%
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What is driving the Canadian dollar today?
Current Exchange Rate
Updated: Sep 23, 2026, 12:16 a.m. ET
USD/CAD Historical Exchange Rates
Daily change
+0.18%Weekly change
+0.68%Monthly change
+2.32%3 months change
−0.49%6 months change
+2.65%Yearly change
+1.91%We use mid-market rates. This is for informational purposes only.
As of September 23, 2026, USD/CAD is trading at 1.4082, representing a 0.18% shift in the last 24 hours. Today, the pair has traded within the 1.4054-1.4086 range.
USD/CAD retains an upward bias as hawkish Fed expectations support the US dollar while trade uncertainty and softer oil leave CAD vulnerable. Macklem’s warning that persistent energy inflation could require higher Canadian rates is providing some support for the CAD to USD backdrop, but concerns surrounding bilateral trade continue to limit demand. Today’s weekly ADP estimate and Wednesday’s US PMIs will provide the next tests for the pair.
- Fed expectations support USD: The central bank’s recent increase and signal that another move may follow this year are maintaining demand for the dollar.
- Macklem keeps Canadian tightening possible: The BoC Governor warned that persistent energy-driven inflation could leave policymakers choosing between holding rates and raising them.
- Trade uncertainty remains a CAD headwind: US tariffs and Canadian countermeasures continue to create uncertainty for exporters, investment and domestic growth.
- Oil and US data guide the next move: Softer crude limits CAD support, while the weekly ADP estimate and upcoming PMIs could shift US rate expectations.
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Upcoming USD/CAD economic events
Economic calendar as of Sep 23, 2026, 12:16 a.m. ET
Today’s weekly ADP estimate provides a timely look at US private hiring. Tomorrow’s flash manufacturing and services PMIs will test broader US activity and Fed expectations.
EventImpact
S&P Global Manufacturing PMI (Sep, Flash)
Medium
S&P Global Services PMI (Sep, Flash)
Medium
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 holds broadly steady as euro pressure from ECB pause expectations is offset by falling oil prices weighing on CAD. Wednesday’s eurozone PMIs will test the euro’s near-term position.
Current rate
1.6093 -0.02%
Low1.6088
High1.6106
Trading Range1.6088-1.6106
GBP/CAD news and daily outlook
GBP/CAD trades cautiously as weaker UK borrowing figures pressure sterling, while lower oil prices limit CAD support. Wednesday’s UK flash PMIs are the next test for pound momentum.
Current rate
1.8754 0.01%
Low1.8746
High1.8776
Trading Range1.8746-1.8776
CAD/JPY news and daily outlook
Yen remains under pressure against CAD as cautious BoJ guidance limits support following its latest rate increase. Falling oil may weaken CAD, but wide yield differentials continue to favour CAD/JPY.
Current rate
111.91 0.01%
Low111.84
High112.03
Trading Range111.84-112.03
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FAQs
As of September 23, 2026, USD/CAD is trading at 1.4082, meaning one US Dollar buys approximately 1.4082 CAD.
The USD to CAD exchange rate is 1.4082. The pair opened at 1.4057 and has moved 0.18% today.
USD/CAD is up by 0.18% 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 0.18%, 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 +2.32% over the past month and +2.63% 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.
