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

What's happening to the Canadian dollar today?

The Canadian dollar (CAD) remains supported after headline inflation accelerated to 3.1% and the Bank of Canada’s Business Outlook Survey showed improving business sentiment. The stronger domestic backdrop is helping CAD maintain recent gains, although softer core inflation is limiting expectations for aggressive BoC tightening. USD/CAD also remains pressured by a US dollar trading near a three-week low ahead of next week’s Federal Reserve decision.

• BoC expectations could keep CAD supported: Persistent headline inflation and improving business sentiment could strengthen the case for keeping Canadian policy restrictive.
• Core inflation remains an important constraint: Further softness in underlying price pressures would reduce expectations for aggressive BoC tightening and could slow CAD gains.
• The Fed decision is the next major USD catalyst: A more cautious Fed outlook could keep the dollar under pressure, while a stronger tightening signal may help USD/CAD recover.

Where is the USD/CAD exchange rate trading today?

Canadian dollar today - Rate, outlook and daily drivers

As of October 21, 2026, USD/CAD is trading at 1.4066, representing a 0.05% shift in the last 24 hours. Today, the pair has traded within the 1.4038-1.4082 range.

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

The Canadian dollar's worth today is approximately US$0.7109, €0.6333, £0.5312, ¥112.42, CHF0.5865 and A$1.0122. 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 euro (+0.04%), Japanese yen (-0.02%) and Swiss franc (+0.02%), gaining against the Mexican peso (+0.40%) while losing ground against the US dollar (-0.05%), British pound (-0.10%), Chinese yuan (-0.42%), Indian rupee (-0.42%), New Zealand dollar (-0.20%) and Australian dollar (-0.33%). CAD’s strongest move among the displayed crosses is against the Mexican peso, while its largest decline is against the Chinese yuan.

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 a stronger Canadian policy backdrop combines with subdued demand for the US dollar. The CAD to USD rate is benefiting from higher headline inflation and improving Canadian business sentiment, while the US dollar rate today remains near recent lows as markets expect the Fed to leave policy unchanged next week. Softer Canadian core inflation is preventing a more aggressive repricing of BoC expectations, but CAD retains the stronger near-term momentum.

• Canadian headline inflation supports CAD: Inflation rising to 3.1% has reinforced expectations that the Bank of Canada will need to remain cautious about easing policy.
• Business sentiment is improving: The BoC Business Outlook Survey points to a firmer domestic backdrop and provides additional support for the loonie.
• Core inflation tempers BoC hike expectations: Softer underlying inflation reduces the case for aggressive tightening and limits some of CAD’s upside.
• USD remains subdued: The dollar is holding near a three-week low as markets lean toward no immediate change from the Fed at next week’s meeting.

Today's currency headlines

• USD: US dollar holds near a three-week low as markets remain cautious ahead of next week’s Fed decision, with expectations still leaning toward no immediate change in rates.
• CAD: Loonie remains supported after headline inflation rises to 3.1% and the BoC Business Outlook Survey shows improving business sentiment, although softer core inflation tempers the case for aggressive tightening.
• EUR: Euro remains under pressure as France’s borrowing costs climb to their highest levels in decades, with fiscal concerns and ongoing political unrest continuing to undermine confidence.
• GBP: Sterling strengthens after UK inflation accelerates to 3.5%, with firmer core and services prices reinforcing expectations for a Bank of England rate hike in November.
• JPY: Yen gains support after BoJ Deputy Governor Himino says underlying inflation is close to the 2% target and warns that delaying further policy adjustment could increase inflation risks.
• AUD: Aussie strengthens after RBA Deputy Governor Hauser says the inflation outlook has become “materially worse,” sharply increasing expectations for another rate hike in November.