Is USD to CAD going up or down?

As of January 16, 2026, the exchange rate for USD to CAD is 1.38989, denoting a 0.10% change. The pair is showing upward trend based on recent market activity and economic data.

What is the Canadian dollar worth today?

The value of the Canadian dollar today depends on how it’s performing against major global currencies. Based on the latest market levels, the USD/CAD pair is trading around 1.38989, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61474, while the British pound sits around 1.86284 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 113.685, offering a snapshot of CAD strength in Asian markets.

What is the prediction of the Canadian dollar against the US dollar?

The USD/CAD exchange rate has moved, influenced by shifting interest rate expectations, economic data, and global market sentiment. You can track current and historical trends on the MTFX live rates and FX forecast pages.

Is now a good time to buy Canadian dollars?

The current USD to CAD exchange rate is 1.38989. If that's not your desired rate and you're looking to buy CAD, consider setting a USD/CAD currency rate alert through MTFX so you can receive notifications when the pair reaches your target rate.

What is the forecast for CAD to USD in 2025?

The CAD to USD exchange rate has shown a 0.10% daily change, reflecting ongoing movements in interest rates, economic data, and market sentiment. While forecasts vary, you can view the latest projections and trend analysis on the MTFX CAD forecast page.

Is the Canadian dollar worth more than the American dollar?

No, the Canadian dollar is not worth more than the American dollar. In most market conditions, 1 USD buys more than 1 CAD, meaning the US dollar holds the higher value. The USD/CAD exchange rate shows this difference day to day.

How is the CAD performing today?

Today, the Canadian dollar is demonstrating remarkable resilience, buoyed by robust economic indicators and favourable global market sentiments. As it nudges against major currencies, it presents an opportunity for those closely monitoring its movements. The currency's value reflects strengthened domestic economic growth and greater optimism about trade volumes. This resilience demonstrates Canada’s adaptability in volatile markets. Strategists are confident, recognizing the CAD's underlying momentum, sustained by healthy commodity prices and steadfast monetary policies. Consequently, the loonie is maintaining its strength internationally. Investors are witnessing positive trends and are keen on leveraging the Canadian dollar’s performance. The country’s fiscal policies remain supportive, boosting global economic confidence. Furthermore, the CAD's current trajectory suggests an expanded scope for future gains, allowing an optimistic outlook for stakeholders. Anticipated policy shifts in global markets may also favour the Canadian currency's position. In sum, today’s progress in CAD speaks volumes of its enduring competitiveness. Market players continue to watch the loonie’s path with an eye on long-term opportunities

Can I exchange USD for CAD?

Certainly, exchanging USD for CAD is a straightforward process managed effortlessly in Canada through various financial channels. Firstly, currency conversion is facilitated by banks, which remain one of the most reliable avenues for exchanging your USD for CAD. These institutions not only provide convenience but also offer competitive rates backed by comprehensive financial services. Additionally, major banks have branches and ATMs widely distributed across the country, enhancing your access to seamless currency exchange transactions. Furthermore, alternative financial services such as currency exchange booths and online platforms can often provide appealing rates or lower transaction fees compared to traditional bank setups. These facilities are especially beneficial when time is of the essence or when a more favourable exchange rate is sought after. Using these platforms provides a quick and efficient means to convert currencies with user-friendly interfaces and secure transaction protocols. Finally, whether exchanging money for travel, business, or investment, it is advisable to stay updated on current exchange rates, as this knowledge empowers consumers to make informed financial decisions. Embracing digital resources or visiting financial institutions directly can provide you with the latest insights and an optimal exchange experience.

What is the CAD exchange rate?

The Canadian dollar, an essential pillar of the nation's economic architecture, fluctuates in value against other major currencies based on myriad dynamic factors. These factors include commodity prices, global economic trends, and fiscal policies, each of which plays a critical role in shaping exchange rates. Focusing on commodities, Canada’s abundant natural resources, particularly oil, significantly influence the dollar's value. Changes in oil prices often trigger corresponding shifts in the currency's worth. Globally, the Canadian economy's interaction with significant currencies like the US dollar and the Euro further bolsters its performance. These interactions can pivot on trade balances, investment trends, and central bank actions. Domestically, the Bank of Canada’s policies are pivotal. Interest rate adjustments, policy announcements, and economic outlooks projected by the Bank significantly influence investor confidence and currency valuation. In light of such complexities, the exchange rate can be seen as a live barometer of the underlying economic health and future expectations surrounding Canada's economic position. Currency traders, investors, and policymakers all maintain a keen interest in the loonie’s movements given their broad implications. Ultimately, understanding these intricate relations equips businesses with strategies to mitigate risk while capitalizing on opportunities that exchange rate movements present. The currency's resilience is a testament to its ability to anchor Canada’s economic aspirations firmly on the global stage.

Can I use CAD for online purchases?

Leveraging the power of your Canadian dollars for online purchases offers a straightforward, seamless experience, as most Canadian online retailers readily accept CAD. This ease of transaction simplifies online shopping, ensuring that your financial dealings remain within familiar and advantageous parameters. For international transactions, however, it's important to recognize the potential for currency conversion. Many global platforms cater to Canadian consumers by offering CAD as an accepted currency, but it is crucial to verify this option during checkout. Utilizing CAD for online purchases can also provide a strategic advantage in managing currency risk, particularly when exchange rates are unfavourable or volatile. This stability allows consumers and businesses alike to optimize their financial strategies, avoiding unnecessary fees and fostering economic efficiency. The digital economy's spirited momentum means numerous platforms now offer multi-currency capabilities, expanding buying power and access worldwide. For businesses, this means expanding their horizons beyond commerce; for consumers, it means enjoying the burgeoning variety of products and services without currency barriers. In this evolving landscape, Canadian consumers are empowered to navigate and seize opportunities in the vast expanse of global online commerce, enhancing both their purchasing experiences and economic participation.

What affects the value of the Canadian dollar?

The value of the Canadian dollar reflects both domestic and international economic realities. Its fluctuations are guided by a tapestry of factors, from the vibrant pulse of global commodity markets to the nuanced shifts in monetary policy. Taking centre stage, the Canadian economy's heavy reliance on natural resources, notably oil, means that fluctuations in these market prices can have a dramatic impact on the dollar. When oil prices soar, the loonie tends to strengthen as Canada enjoys a surge in export revenues and an enhanced international economic standing. Moreover, economic policies crafted by the Bank of Canada significantly sway the dollar's trajectory. Changes in interest rates, for example, can alter investor behaviour, affecting capital inflows and outflows and thereby influencing currency value. The anticipation of policy directions often stirs market sentiment, reverberating across global forex markets. Additionally, global economic conditions extend their influence across borders. From economic growth rates in trading partner countries to geopolitical events that shake investor confidence, external trends cast a profound influence over the loonie’s valuation. Understanding these shifting dynamics enables stakeholders to navigate the currents of the international financial landscape effectively, ensuring the Canadian dollar remains resilient and competitive on the world stage.

Currency Updates

Forecast and Trends: Canadian Dollar Today

Understand global finance dynamics by tracking key players, like the euro, pound, and the Canadian dollar today, including monitoring the USD to CAD exchange rate, as they respond to the daily exchange rates, economic shifts, market sentiment, and international trade flows using a currency converter.

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Written by Ash Abbasi

January 16, 2026

Canadian Dollar News - CAD steadies on energy market lift

The USD/CAD exchange rate is trading with a softer bias as near-term momentum shifts on both sides of the border. The US dollar rate today is edging lower, though losses remain limited after recent strong data reinforced expectations that the Federal Reserve will hold rates steady for now, with industrial production figures next in focus for confirmation of growth momentum. This has kept the CAD to USD rate broadly balanced rather than decisively directional. Meanwhile, the Canadian dollar rate today is posting a modest rebound as crude oil prices rise following an escalation in geopolitical risks after Ukraine ramped up attacks, lending support to the loonie. With domestic housing data now in the spotlight, the exchange rate is likely to remain sensitive to energy markets and incoming data rather than breaking into a clear trend in the near term.

Today's Global Currency Highlights

A quick view of the CAD today against the USD and other major currencies.

USD: US dollar trades on a softer note, but downside remains limited after strong data bolsters Fed rate hold expectations, industrial production figures now in focus.
CAD: Canadian dollar posts a modest rebound as crude prices rise after Ukraine ramps up attacks, heightening geopolitical risks, domestic housing data in spotlight.
EUR: Euro edges higher on broad greenback weakness after EU data confirms German consumer inflation cooled to the ECB’s 2% year-on-year target in December.
GBP: Sterling recovers part of its weekly losses as USD momentum fades, stronger GDP figures ease market concerns around the Labour government’s budget plans.
JPY: Yen extends its recovery but stays confined to its recent range as focus turns to the upcoming BoJ meeting, with investors eyeing clearer policy signals.
AUD: Australian dollar holds steady without clear direction as inflation expectations tick lower, reinforcing the RBA’s cautious approach to monetary policy.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX spotlight, attention turns to the economic calendar, with housing and policy signals shaping market direction. Markets will watch Canada housing starts for insight into domestic construction activity, which could influence sentiment around the Canadian dollar today, particularly if the data points to resilience or renewed softness. In the US, industrial production figures will be key for assessing underlying growth momentum, while scheduled remarks from Fed officials Collins and Bowman will be closely monitored for guidance on policy timing and inflation risks, shaping expectations and sentiment around the US dollar today.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news points to a cautious and data-sensitive outlook, with the Canadian dollar rate today struggling to gain traction as markets await clearer signals from domestic housing activity and the US policy outlook. Canada’s housing starts will be closely watched for signs of underlying economic momentum, while US industrial production and comments from Fed officials are shaping broader risk sentiment. With external drivers still dominant, the loonie is likely to trade defensively unless domestic data delivers a clear upside surprise.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On January 16, 2026, the USD/CAD pair is trading at 1.38989, representing a 0.10% move in the last 24 hours.

USD/CAD highlights

USD eases but finds support from data: The US dollar trades on a softer note, though downside remains limited as recent strong data reinforces expectations that the Federal Reserve will keep rates on hold.
Industrial production eyed for USD direction: Attention now turns to US industrial production figures for confirmation of underlying growth momentum and the next near-term cue for the greenback.
CAD rebounds on higher oil prices: The Canadian dollar posts a modest recovery as crude prices rise, supported by heightened geopolitical risks after Ukraine ramps up attacks.
Housing data key for CAD follow-through: With energy markets providing support, domestic housing data is now in focus to determine whether the loonie can extend gains or revert to range-bound trade.

Economic news impacting USD/CAD today

US Industrial Production
Canada Housing Starts
US Fed Collins' Speech
US Fed Bowman's Speech

Daily trading range

USD/CAD pair fluctuating within a recent 1.3800–1.3950 range and holding near the upper end of that band with a modest upward bias.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
On January 16, 2026, the EUR/CAD pair is trading at 1.61474, representing a 0.16% move in the last 24 hours.

EUR/CAD highlights

Euro edges higher on USD weakness: The euro ticks up as broad greenback softness provides support, lifting EUR/CAD modestly in early trade.
German inflation data underpins EUR: Confirmation that German CPI cooled to the ECB’s 2% year-on-year target in December is reinforcing confidence in the ECB’s policy outlook, stabilizing CAD to EUR rate.
Measured upside for EUR near term: While inflation data is supportive, gains remain orderly rather than aggressive, leaving EUR/CAD sensitive to further USD moves and broader risk sentiment.

Economic news impacting EUR/CAD today

CFTC EUR speculative net positions

Daily trading range

EUR/CAD today is fluctuating within a recent 1.6050–1.6250 range and holding near the middle of that band with a neutral bias.

Save more on the EUR/CAD exchange rate.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
On January 16, 2026, the GBP/CAD pair is trading at 1.86284, representing a 0.28% move in the last 24 hours.

GBP/CAD highlights

Sterling recovers as USD momentum fades: The pound claws back part of its weekly losses as US dollar strength eases, allowing GBP/CAD to stabilize after recent pressure.
GDP data supports GBP sentiment: Stronger-than-expected UK GDP figures are helping ease market concerns around the Labour government’s budget plans, underpinning CAD to GBP rate.
GBP steadies near term: With domestic growth signals improving but broader uncertainty lingering, sterling is likely to trade in a measured range, leaving GBP/CAD sensitive to shifts in USD direction.

Economic news impacting GBP/CAD today

CFTC GBP speculative net positions

Daily trading range

GBP/CAD is fluctuating within a recent 1.8500–1.8800 range and holding near the middle of that band with a neutral bias.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
On January 16, 2026, the CAD/JPY pair is trading at 113.685, representing a -0.40% move in the last 24 hours.

CAD/JPY highlights

Yen extends recovery ahead of BoJ meeting: The yen continues to recover modestly as markets position ahead of the upcoming Bank of Japan meeting, keeping CAD/JPY contained within its recent range.
Policy clarity key for JPY direction: Investors are looking to the BoJ for clearer guidance on the policy outlook, with uncertainty limiting conviction in CAD to JPY flows for now.
Range-bound bias persists for JPY: Until clearer signals emerge from policymakers, the yen is likely to remain range-bound, leaving CAD/JPY sensitive to shifts in expectations around BoJ normalization.

Economic news impacting CAD/JPY today

CFTC JPY speculative net positions

Daily trading range

CAD/JPY today is fluctuating within a recent 113.00–115.00 range and holding near the middle of that band with a neutral bias.

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Written by

Ash Abbasi

Director of Sales

Ash Abbasi is the Director of Sales at MTFX, specializing in corporate FX and cross-border payment solutions for Canadian businesses. With a background in sales leadership and account management across global markets, he helps clients optimize international transactions and manage currency risk. Ash holds a degree from Aston Business School and a postgraduate diploma from Humber College.

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