Is USD to CAD going up or down?

As of December 8, 2025, the exchange rate for USD to CAD is 1.38031, denoting a -0.08% change. The pair is showing downward 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 1.38031, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.60871, while the British pound sits around 1.8397 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 112.653, 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 1.38031. 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 -0.08% 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

December 8, 2025

Canadian Dollar News - CAD steady near multi-month highs

The US dollar rate today opens the crucial Fed week on the defensive, slipping as traders scale back tightening expectations ahead of the interest rate decision and the updated Summary of Economic Projections. With markets anticipating clearer guidance on the 2026 policy path, upcoming Fed communication is set to play a defining role in shaping the exchange rate narrative. Meanwhile, the Canadian dollar rate today remains comfortably near multi-month highs, supported by strong employment gains, buoyant oil prices, and a steady tone from the Bank of Canada. This divergence keeps CAD to USD pressures tilted in favour of the loonie in the near term, though volatility may rise once the Fed outlines its forward guidance.

Today's Global Currency Highlights

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

USD: USD begins a pivotal Fed week under renewed selling pressure, markets eye interest rate verdict and Summary of Economic Projections (SEP) for USD outlook.
CAD: Canadian dollar steadies near multi-month highs after robust employment data, with firm oil prices and a cautious BoC stance continuing to underpin support.
EUR: Euro trades mixed at the start of Fed week, lacks clear direction as markets avoid major positioning ahead of policy announcements from the Fed and the BoC.
GBP: Sterling undergoes a mild correction after last week’s gains as broader market caution sets in, downside capped as tax-rising budget remains in play.
JPY: Yen weakens further following a GDP downgrade, losses are tempered by ongoing USD softness and strengthening expectations of a forthcoming BoJ rate hike.
AUD: Aussie pulls back from last week’s highs but retains a constructive bias as markets expect the RBA to keep interest rates on hold on Tuesday.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX spotlight, traders are navigating a quieter economic calendar with no key events scheduled, leaving markets to position cautiously ahead of Wednesday’s pivotal Fed and BoC rate decisions. With little domestic data to guide intraday moves, the Canadian dollar today will hinge on broader risk tone and expectations for how the BoC may frame its policy outlook. At the same time, markets remain attentive to upcoming Fed communication, as any shift in tone could sway inflation and rate-cut expectations, influencing the path of the US dollar today and shaping trends across the broader FX calendar.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news reflects a cautious tone, with the Canadian dollar rate today finding limited momentum as markets await Wednesday’s high-stakes Fed and BoC decisions. With no major data on the calendar, traders are looking to broader risk sentiment and policy expectations for direction, leaving the loonie vulnerable to shifts in USD flows. In the near term, CAD is likely to trade defensively, with modest support from firm labour fundamentals but upside capped until both central banks clarify their policy paths mid-week.

USD/CAD Daily Update

What’s the USD/CAD rate today?
As of December 8, 2025, the USD/CAD pair trades at 1.38031, representing a -0.08% move in the last 24 hours.

USD/CAD highlights

USD weakens ahead of key Fed decision: The US dollar starts the pivotal policy week under renewed selling pressure as traders position cautiously ahead of the interest rate verdict and the Fed’s updated Summary of Economic Projections.
Fed outlook to steer USD/CAD: With markets awaiting clarity on the Fed’s inflation and growth assumptions, CAD to USD rate remains highly sensitive to any indication of how soon rate cuts may begin.
CAD steadies near multi-month highs: The Canadian dollar holds firm after strong domestic employment data, with resilient labour conditions helping limit downside risks despite pockets of global uncertainty.
Oil strength and BoC caution support CAD: Firmer crude prices and a steady, measured tone from the Bank of Canada continue to underpin the loonie, leaving USD/CAD momentum biased toward CAD resilience ahead of Wednesday’s dual central-bank decisions.

Economic news impacting USD/CAD today

US NY Fed 1-Year Consumer Inflation Expectations

Daily trading range

USD/CAD today is within a 1.3760–1.3845 range with a mildly bearish bias.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
As of December 8, 2025, the EUR/CAD pair trades at 1.60871, representing a 0.05% move in the last 24 hours.

EUR/CAD highlights

Euro drifts without conviction: The euro opens Fed week on a mixed note, with EUR/CAD direction muted as traders avoid major moves ahead of key policy announcements from both the Fed and the BoC.
Cautious positioning caps EUR momentum: With markets unwilling to lean aggressively long or short, EUR/CAD flows remain subdued, reflecting broader uncertainty around upcoming central-bank guidance.
Event-risk sidelining dominates trade: Until rate decisions clarify the policy path on both sides of the Atlantic, euro sentiment is likely to stay range-bound, with CAD dynamics playing an outsized role in short-term EUR/CAD movement.

Economic news impacting EUR/CAD today

ECB President Lagarde's Speech (Wednesday)

Daily trading range

EUR/CAD today is trading within a 1.6030–1.6135 range with a neutral bias.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
As of December 8, 2025, the GBP/CAD pair trades at 1.8397, representing a -0.15% move in the last 24 hours.

GBP/CAD highlights

Sterling sees modest pullback: GBP eases off last week’s highs as broader market caution prompts light profit-taking, leaving GBP/CAD drifting lower in early trade.
Budget backdrop limits downside: Expectations that the UK’s tax-rising budget will help stabilise fiscal conditions provide a partial cushion, preventing a deeper correction in CAD to GBP flows.
Event-risk caution tempers volatility: With traders avoiding aggressive positioning ahead of Fed and BoC decisions, GBP/CAD is likely to stay contained within familiar ranges until policy clarity emerges later in the week.

Economic news impacting GBP/CAD today

BRC Retail Sales Monitor

Daily trading range

GBP/CAD today is trading within a 1.8320–1.8465 range with a neutral-to-slightly bearish bias.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
As of December 8, 2025, the CAD/JPY pair trades at 112.653, representing a 0.31% move in the last 24 hours.

CAD/JPY highlights

Yen softens after GDP downgrade: The yen extends its decline as the latest GDP revision reinforces concerns about Japan’s growth outlook, keeping CAD/JPY tilted upward in early trade.
USD softness limits deeper JPY losses: Ongoing weakness in the US dollar helps cushion the yen, preventing a sharper slide in CAD to JPY rate despite Japan’s domestic headwinds.
BoJ hike expectations provide a floor: Strengthening market conviction that the Bank of Japan may move toward a rate hike offers some underlying support, helping stabilise CAD/JPY within its broader range.

Economic news impacting CAD/JPY today

5-Year JGB Auction

Daily trading range

CAD/JPY today is trading within a 112.10–113.40 range with a mildly bullish 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.

Useful links

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