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

What's happening to the Canadian dollar today?

Canadian dollar news - The Canadian dollar (CAD) remains under heavy pressure near a multi-month low against a dominant US dollar. Elevated US Treasury yields, renewed expectations of further Federal Reserve tightening and a softer Canadian rate backdrop continue to favour USD, while firmer oil prices are only partially cushioning CAD. Attention now turns to today’s manufacturing data and upcoming labour releases for signs that this policy divergence could widen further.

• US manufacturing could reinforce Fed pressure: A firm ISM Manufacturing reading would strengthen the case for US rates to stay higher for longer, potentially keeping USD/CAD biased upward.
• Canadian manufacturing is the next domestic test: Canada’s S&P Global Manufacturing PMI will show whether factory activity can maintain expansion and provide CAD with a stronger domestic growth signal.
• Labour data could widen the rate gap: US jobless claims today and Friday’s employment report will be closely watched for evidence that the labour market remains resilient enough to support further Fed tightening.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of October 1, 2026, USD/CAD is trading at 1.4223, representing a -0.06% shift in the last 24 hours. Today, the pair has traded within the 1.4216-1.4263 range.

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

The Canadian dollar's worth today is approximately US$0.7031, €0.6254, £0.5329, ¥111.13, CHF0.5842 and A$1.0152. 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 (+0.06%), euro (+0.83%), British pound (+0.56%), Japanese yen (+0.53%), Chinese yuan (+0.34%), Mexican peso (+1.37%), Indian rupee (+0.55%), New Zealand dollar (+0.62%) and Australian dollar (+0.31%) while losing ground against the Swiss franc (-0.49%). CAD’s strongest move among the displayed crosses is against the Mexican peso, while its largest decline is against the Swiss franc.

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 remains elevated as surging US Treasury yields and expectations of further Federal Reserve tightening continue to outweigh the Canadian dollar’s commodity support. The US dollar rate today is benefiting from a widening yield advantage, while the CAD to USD backdrop remains constrained by a comparatively softer Bank of Canada path. With USD/CAD trading around the 1.42 area, today’s US and Canadian manufacturing releases could determine whether the pair extends its advance or begins to consolidate.

• Treasury yields strengthen USD: US yields have climbed sharply, increasing the relative appeal of dollar-denominated assets and maintaining upward pressure on USD/CAD.
• Fed expectations remain hawkish: Markets continue to price additional US tightening as persistent inflation and resilient activity keep pressure on the Federal Reserve to maintain a restrictive stance.
• Canada’s factory sector faces a key test: September’s Canadian manufacturing PMI follows an August reading of 53.0, with another expansionary result needed to improve the domestic growth narrative.
• US manufacturing could drive the next move: ISM Manufacturing is expected to remain firmly in expansion territory, making today’s release an important test of whether US economic resilience continues to justify higher rates.

Today's currency headlines

• USD: US dollar pushes back toward yearly highs as surging yields and hawkish Fed rhetoric keep USD firmly in demand ahead of jobless claims and PMIs.
• CAD: Canadian dollar stays on defensive against the greenback despite stronger oil, with today’s manufacturing PMI offering the next domestic test.
• EUR: Euro struggles near multi-month lows as the powerful USD and rising global yields overshadow signs of improving eurozone manufacturing activity.
• GBP: Sterling remains vulnerable as borrowing costs surge and manufacturing growth softens, adding pressure despite a still-restrictive BoE backdrop.
• JPY: Yen weakens sharply as soaring US yields overwhelm support from improving Japanese business sentiment, leaving USD/JPY back above 158.
• AUD: Aussie remains relatively resilient after the RBA’s latest tightening, but higher global yields and renewed risk aversion keep upside contained.