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Daily brief - Canadian dollar trades unevenly as oil and Fed balance out
Canadian dollar rate today is mixed, weakening against USD and GBP while gaining against EUR, JPY and AUD. Higher oil prices are cushioning CAD, but hawkish Fed expectations and caution before tomorrow’s Bank of Canada decision are limiting broader support. Today’s US manufacturing PMIs and JOLTS report will shape Fed expectations before attention shifts fully to the BoC.
USD/CAD
Current Rate:
1.3894
Last updated:Sep 01, 2026, 07:50 p.m. ET
Actual Trading range
1.38891.3900
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Today's currency headlines
- USD: US dollar edges higher as hawkish Fed expectations persist, with today’s manufacturing PMIs and JOLTS job figures set to test that support.
- CAD: Canadian dollar is mixed as surging oil provides support, while markets remain cautious before tomorrow’s Bank of Canada rate decision.
- EUR: Euro softens slightly after headline inflation rose to 3.3% as expected, while easing core inflation tempered fresh ECB tightening bets.
- GBP: Sterling edges lower against USD as slower UK manufacturing and rising fiscal concerns offset potential support from rising gilt yields.
- JPY: Yen remains subdued as wide rate differentials outweigh intervention warnings, despite Japanese yields reaching multi-decade highs.
- AUD: Australian dollar eases as risk aversion outweighs its hawkish policy backdrop, with tomorrow’s Q2 GDP providing the next domestic test.
Canadian dollar (CAD) daily performance against major global currencies
Updated: Sep 01, 2026, 07:50 p.m. ET
The Canadian dollar is essentially unchanged against US dollar, euro, British pound, Chinese yuan, New Zealand dollar, Swiss franc and Australian dollar, gaining against the Japanese yen and Mexican peso while losing ground against the none. CAD’s strongest move among the displayed crosses is against the Indian rupee, while its largest decline is against the US dollar.
USD / CAD
Current Rate
1.3894
Daily Change
-0.01%
EUR / CAD
Current Rate
1.6106
Daily Change
-0.03%
GBP / CAD
Current Rate
1.8778
Daily Change
-0.02%
CAD / JPY
Current Rate
115.29
Daily Change
0.08%
CAD / CNY
Current Rate
4.8392
Daily Change
0.05%
CAD / MXN
Current Rate
12.23
Daily Change
0.11%
CAD / INR
Current Rate
68.32
Daily Change
0.17%
NZD / CAD
Current Rate
0.8187
Daily Change
-0.04%
CAD / CHF
Current Rate
0.5842
Daily Change
0.04%
AUD / CAD
Current Rate
0.9928
Daily Change
-0.02%
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What is driving the Canadian dollar today?
Current Exchange Rate
Updated: Sep 01, 2026, 07:50 p.m. ET
USD/CAD Historical Exchange Rates
Daily change
−0.01%Weekly change
+0.13%Monthly change
−0.84%3 months change
+0.39%6 months change
+1.88%Yearly change
+1.04%We use mid-market rates. This is for informational purposes only.
As of September 1, 2026, USD/CAD is trading at 1.3894, representing a -0.01% shift in the last 24 hours. The pair is likely to trade within the 1.3889-1.3900 range.
USD/CAD is edging higher as hawkish Fed expectations give USD a modest advantage, despite rising oil prices supporting CAD. The US dollar rate today is firmer ahead of the manufacturing PMIs and JOLTS report, which could reinforce or weaken expectations for further Fed tightening.
The CAD to USD backdrop remains supported by oil, but positioning before tomorrow’s BoC decision is limiting Canadian-dollar demand.
- US factory data will test Fed expectations: Stronger S&P Global and ISM manufacturing readings would indicate resilient activity and could reinforce USD demand.
- JOLTS will measure labour demand: Elevated job openings could support a tighter Fed outlook, while a weaker reading may reduce the dollar’s advantage.
- Oil limits USD/CAD upside: Surging crude prices improve Canada’s terms of trade and provide an important counterweight to Fed-driven US dollar strength.
- BoC guidance creates near-term risk: Tomorrow’s decision and comments on inflation, growth and trade uncertainty will determine whether CAD can retain its oil-driven support.
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Upcoming USD/CAD economic events
Economic calendar as of Sep 01, 2026, 07:50 p.m. ET
- Canada S&P Global Manufacturing PMI: Tracks Canadian factory activity, with a stronger reading generally supporting CAD.
- US S&P Global Manufacturing PMI: Measures US factory activity, with a stronger reading generally supporting USD.
- US ISM Manufacturing PMI: Surveys US manufacturers, with stronger activity and price pressures potentially reinforcing Fed tightening expectations.
- US JOLTS Job Openings: Measures unfilled positions, with higher openings signalling firm labour demand and generally supporting USD.
EventImpact
ADP Nonfarm Employment Change (Aug)
High
BoC Interest Rate Decision
High
Factory Orders MoM (Jul)
Medium
BoC Press Conference
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 1, 2026
EUR/CAD news and daily outlook
EUR/CAD is edging lower as easing euro-area core inflation limits euro support, while rising oil benefits CAD. Tomorrow’s BoC decision will determine whether the Canadian dollar can extend its advantage.
Current rate
1.6106 -0.03%
Low1.6100
High1.6113
Trading Range1.6100-1.6113
GBP/CAD news and daily outlook
GBP/CAD is slightly firmer as rising UK gilt yields help sterling outperform CAD, although fiscal concerns limit broader pound demand. Higher oil supports CAD before tomorrow’s BoC decision.
Current rate
1.8778 -0.02%
Low1.8772
High1.8787
Trading Range1.8772-1.8787
CAD/JPY news and daily outlook
Yen is weakening slightly against CAD as wide rate differentials and higher oil prices favour the Canadian dollar. BoC guidance could extend the move, while intervention warnings and rising Japanese yields may limit further yen losses.
Current rate
115.29 0.08%
Low115.14
High115.37
Trading Range115.14-115.37
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FAQs
As of September 1, 2026, USD/CAD is trading at 1.3894, meaning one US Dollar buys approximately 1.3894 CAD.
The USD to CAD exchange rate is 1.3894. The pair opened at 1.3895 and has moved -0.01% today.
USD/CAD is essentially unchanged by -0.01% today, with short-term market sentiment currently neutral. 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 essentially unchanged by -0.01%, with a neutral 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 -0.84% over the past month and +1.26% year-to-date. It is currently trading below its 50-day moving average of 1.4000. 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.
