Is USD to CAD going up or down?

As of January 8, 2026, the exchange rate for USD to CAD is 1.38634, denoting a 0.02% 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 1.38634, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61635, while the British pound sits around 1.86266 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 113.088, 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 1.38634. 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 0.02% 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 8, 2026

Canadian Dollar News - CAD weakens as risk aversion lifts USD

The USD/CAD exchange rate is trading with a firmer bias as broader risk aversion supports the greenback late in the week. The US dollar rate today is consolidating recent gains as markets turn cautious, with attention shifting to upcoming jobless claims and trade data ahead of Friday’s key US jobs report for confirmation on labour-market momentum. This environment continues to favour near-term CAD to USD positioning. Meanwhile, the Canadian dollar rate today is extending its recent decline amid lingering concerns over demand for Canadian crude, which has weighed on sentiment despite comments from Prime Minister Carney that Canadian oil will remain competitive. With trade data in focus and energy markets still a headwind, the exchange rate is likely to remain sensitive to risk sentiment and incoming US data rather than domestic Canadian drivers 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 consolidates its weekly gains as risk aversion returns to markets, attention turns to jobless claims, trade data ahead of Friday’s jobs report.
CAD: Loonie extends its decline as concerns over demand for Canadian crude linger, PM Carney comments that Canadian oil will remain competitive ahead of trade data.
EUR: Euro stabilizes after unemployment falls and producer prices rise in November, with markets adopting a wait-and-see stance ahead of key US labour market data.
GBP: Sterling faces mild downside pressure as the greenback firms and risk appetite deteriorates, BoE's gradual easing rhetoric continues to underpin support.
JPY: Yen remains supported but lacks strong follow-through, BoJ rate hike bets and geopolitical risks offset by a firmer USD and weak domestic wage growth data.
AUD: Aussie pulls back after a sharp overnight rally, pressured by renewed USD strength and a narrowing trade surplus in November driven by weaker exports.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX spotlight, attention turns to a busy economic calendar, with trade and labour data in focus on both sides of the border. Markets will watch the US Trade Balance, Initial Jobless Claims, and Consumer Credit for clues on external demand and household spending trends, which could influence sentiment around the US dollar today. In Canada, the Trade Balance will be key for assessing export momentum, with a stronger print potentially lending support to the Canadian dollar today, while any disappointment may leave the loonie vulnerable to broader USD-driven moves.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news suggests a cautious and data-sensitive outlook, with the Canadian dollar rate today struggling to build momentum amid lingering global uncertainty. With Canada’s trade balance and key US labour and credit data in focus, the loonie remains vulnerable to shifts in risk sentiment and USD dynamics. While export performance could offer some support if trade data surprises to the upside, broader caution around global demand is likely to keep the Canadian dollar trading defensively rather than breaking into a clear upward trend in the near term.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On January 8, 2026, the USD/CAD pair is trading at 1.38634, representing a 0.02% move in the last 24 hours.

USD/CAD highlights

USD steadies as risk aversion returns: The US dollar consolidates its weekly gains as a more cautious market tone supports the greenback.
Data in focus for USD direction: Attention turns to upcoming jobless claims and trade data as markets position ahead of Friday’s US jobs report for clearer labour-market signals.
CAD extends decline on crude demand concerns: The loonie remains under pressure as lingering worries about demand for Canadian crude continue to weigh on sentiment.
Trade data eyed for CAD relief: Comments from Prime Minister Carney that Canadian oil will remain competitive are offering some reassurance, but upcoming trade figures will be key in determining whether the loonie can stabilize.

Economic news impacting USD/CAD today

US Trade Balance
US Initial Jobless Claims
US Consumer Credit
Canada Trade Balance

Daily trading range

USD/CAD today is 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 8, 2026, the EUR/CAD pair is trading at 1.61635, representing a -0.04% move in the last 24 hours.

EUR/CAD highlights

Euro steadies on supportive domestic data: The euro stabilizes as lower unemployment and firmer producer prices in November help improve sentiment, keeping EUR/CAD relatively stable.
Markets turn cautious ahead of US data: With key US labour market releases ahead, investors are adopting a wait-and-see approach, tempering CAD to EUR rate.
Range-bound bias for EUR: In the absence of fresh eurozone catalysts, the euro is likely to remain range-bound, leaving EUR/CAD sensitive to shifts in USD dynamics.

Economic news impacting EUR/CAD today

Retail Sales (Friday)
ECB Lane's Speech (Friday)

Daily trading range

EUR/CAD today is fluctuating within a recent 1.6100–1.6300 range and holding near the upper end of that band with a modest upward 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 8, 2026, the GBP/CAD pair is trading at 1.86266, representing a -0.10% move in the last 24 hours.

GBP/CAD highlights

Sterling edges lower on firmer USD: The pound faces mild downside pressure as a stronger US dollar and softer risk appetite weigh on sentiment, nudging GBP/CAD lower.
BoE rhetoric limits GBP losses: Ongoing signals from the Bank of England pointing to a gradual easing cycle continue to underpin sterling, helping stabilize CAD to GBP rate despite the pullback.
Range-bound bias persists for GBP: With USD strength offset by policy support, sterling is likely to trade sideways in the near term, leaving GBP/CAD sensitive to broader risk trends.

Economic news impacting GBP/CAD today

CFTC GBP speculative net positions (Friday)

Daily trading range

GBP/CAD is fluctuating within a recent 1.8550–1.8800 range and holding near the upper end of that band with a modest upward bias.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
On January 8, 2026, the CAD/JPY pair is trading at 113.088, representing a 0.02% move in the last 24 hours.

CAD/JPY highlights

Yen holds support but momentum fades: The yen remains supported by lingering Bank of Japan rate hike expectations and geopolitical risks, helping cap upside in CAD/JPY.
USD strength and wages data weigh on JPY: A firmer US dollar and weak domestic wage growth data are limiting follow-through, keeping CAD to JPY moves relatively contained.
Range-bound bias for JPY: With supportive and negative forces offsetting each other, the yen is likely to trade within recent ranges, leaving CAD/JPY sensitive to shifts in USD momentum.

Economic news impacting CAD/JPY today

Household Spending

Daily trading range

CAD/JPY today is fluctuating within a recent 112.50–114.50 range and holding near the lower end of that band with a modest upward 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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