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

What's happening to the Canadian dollar today?

The Canadian dollar (CAD) is holding near a four-week high as markets maintain strong expectations that the Bank of Canada could raise rates next week. Firmer Canadian inflation has strengthened the domestic policy backdrop, while USD/CAD remains under pressure with the US dollar trading near a three-week low. Today’s Canadian producer and raw-material price data could provide another inflation signal, while US jobless claims will test labour-market resilience ahead of the Fed decision.

• Canadian price data could reinforce BoC expectations: Stronger RMPI or IPPI readings would add to evidence of persistent price pressure and could extend CAD strength.
• The BoC decision remains the main CAD catalyst: A more hawkish policy signal next week could push USD/CAD lower, while a less aggressive stance may slow the loonie’s recent gains.
• US labour data could shift USD momentum: A stronger jobless claims reading could support the dollar, while signs of labour-market weakness may keep USD under pressure.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of October 22, 2026, USD/CAD is trading at 1.4010, representing a -0.25% shift in the last 24 hours. Today, the pair has traded within the 1.4009-1.4049 range.

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

The Canadian dollar's worth today is approximately US$0.7138, €0.6358, £0.5326, ¥111.99, CHF0.5863 and A$1.0168. 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 (+0.25%), euro (+0.27%), British pound (+0.13%), Chinese yuan (+0.23%), Indian rupee (+0.17%), New Zealand dollar (+0.39%) and Australian dollar (+0.30%) while losing ground against the Japanese yen (-0.49%), Mexican peso (-0.22%) and Swiss franc (-0.10%). CAD’s strongest move among the displayed crosses is against the New Zealand dollar, while its largest decline is against the Japanese yen.

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 stronger Bank of Canada rate expectations support CAD while the US dollar stays near recent lows. The CAD to USD rate continues to benefit from firmer Canadian inflation and expectations that the BoC could tighten policy next week. Meanwhile, the US dollar rate today remains subdued as markets position cautiously ahead of the Fed decision, leaving today’s jobless claims and Canadian price data as the main near-term catalysts.

• BoC hike expectations support CAD: Markets continue to price a stronger chance of tighter Canadian policy after recent inflation data.
• CAD remains near recent highs: The loonie is holding around its strongest levels in several weeks as domestic policy expectations remain supportive.
• USD momentum remains limited: The dollar is trading near a three-week low as markets remain cautious ahead of next week’s Fed meeting.
• Today’s data could reset the pair: US jobless claims and Canadian producer and raw-material prices may determine whether USD/CAD extends lower or begins to stabilize.

Today's currency headlines

• USD: US dollar pauses near a three-week low as traders position for next week’s Fed decision, with today’s jobless claims providing the latest test of US labour-market resilience.
• CAD: Loonie holds near a four-week high as markets maintain strong expectations for a BoC rate hike next week, with today’s producer and raw-material price data offering the next inflation signal.
• EUR: Euro remains under pressure as French borrowing costs climb above 5% to multi-decade highs, with fiscal stress and renewed protest risks continuing to undermine confidence.
• GBP: Sterling holds near a one-month high after UK inflation accelerated to 3.5%, reinforcing expectations that the Bank of England could raise rates in November.
• JPY: Yen remains supported after BoJ Deputy Governor Himino signalled readiness for further tightening, saying underlying inflation is close to the 2% target and policy remains accommodative.
• AUD: Aussie holds above 0.70 after its recent rally as RBA Deputy Governor Hauser warns the inflation outlook has worsened materially, keeping a November rate hike firmly in play.