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

What's happening to the Canadian dollar today?

Canadian dollar news - The Canadian dollar (CAD) is strengthening as rebounding oil prices add to support from the Bank of Canada’s recent rate hike. The loonie also benefits from a softer US dollar, which remains near a one-month low despite stronger manufacturing data. Attention now turns to comments from Bank of Canada Governor Tiff Macklem, while US JOLTS job openings and factory orders could influence USD/CAD later in the session.

• Macklem’s comments could drive the next CAD move: A hawkish tone would reinforce expectations that Canadian rates could remain restrictive for longer.
• Oil prices remain supportive for CAD: Further gains in crude could strengthen the loonie and put additional downward pressure on USD/CAD.
• US labour and factory data could shift USD direction: Stronger JOLTS or factory orders could help the dollar recover, while weaker data may extend its recent softness.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of November 4, 2026, USD/CAD is trading at 1.3960, representing a -0.36% shift in the last 24 hours. Today, the pair has traded within the 1.3953-1.4014 range.

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

The Canadian dollar's worth today is approximately US$0.7163, €0.6369, £0.5313, ¥113.30, CHF0.5846 and A$1.0229. 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 none, gaining against the US dollar (+0.36%), Japanese yen (+0.08%), Chinese yuan (+0.64%) and Indian rupee (+0.40%) while losing ground against the euro (-0.20%), British pound (-0.24%), Mexican peso (-0.79%), New Zealand dollar (-0.42%), Swiss franc (-0.22%) and Australian dollar (-0.21%). CAD’s strongest move among the displayed crosses is against the Chinese yuan, 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 on higher oil prices and continued support from the Bank of Canada’s tighter policy stance, while the US dollar remains subdued. The CAD to USD rate is benefiting from improving commodity support and expectations that Canadian monetary policy will stay restrictive. Meanwhile, the US dollar rate today remains soft as markets look to JOLTS job openings and factory orders for the next signal on the US economy.

• Rebounding oil prices support CAD: Stronger crude prices improve the backdrop for the Canadian dollar.
• The BoC rate hike continues to support the loonie: Canada’s tighter policy stance remains a key source of CAD strength.
• USD remains subdued: The dollar is still trading near a one-month low despite stronger manufacturing data.
• US data could reset the pair: JOLTS openings and factory orders may determine whether USD/CAD extends lower or begins to recover.

Today's currency headlines

• USD: US dollar remains subdued near a one-month low despite stronger manufacturing data, as markets focus on today’s midterms, JOLTS openings and factory orders.
• CAD: Loonie strengthens as rebounding oil prices add to support from the Bank of Canada’s recent rate hike, with Governor Macklem’s comments now in focus.
• EUR: Euro remains defensive as France’s debt and political concerns limit demand, while markets await fresh euro-area inflation data for the next ECB signal.
• GBP: Sterling holds steady as expectations build for the Bank of England to raise rates to 4.0% on Thursday amid persistent UK inflation in recent months.
• JPY: Yen remains soft as uncertainty over the timing of the next BoJ hike weighs, although intervention warnings from Japanese officials limit further losses.
• AUD: Aussie falls despite the RBA raising rates to 4.85%, as the split decision and softer forward guidance reduce expectations for another near-term hike.