Is USD to CAD going up or down?

As of February 23, 2026, the exchange rate for USD to CAD is 1.3671, denoting a -0.02% 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 1.3671, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.6127, while the British pound sits around 1.84693 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 113.191, 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 1.3671. 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

February 23, 2026

Canadian Dollar News - CAD steady as trade data offsets rate cut bets

USD/CAD trades in a narrow band as the US dollar rate today moves sideways, pressured by lingering uncertainty around US trade policy and the Supreme Court’s tariff ruling. The greenback has struggled to build momentum, leaving the exchange rate largely range-bound as investors weigh legal and policy risks against broader macro signals. Until clarity emerges on trade direction, CAD to USD flows are likely to remain balanced rather than trend-driven. Meanwhile, the Canadian dollar rate today is holding steady even as crude oil retreats from six-month highs, with trade war demand concerns limiting support for the commodity-linked loonie. As a result, the exchange rate continues to consolidate, with neither side showing enough conviction to force a decisive breakout in USD/CAD.

Today's Global Currency Highlights

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

USD: US dollar trades directionless within a tight range as mixed data keeps investors cautious, PCE inflation and GDP figures now in focus for clearer signals.
CAD: Canadian dollar holds steady after trade data shows a narrowing deficit, but lingering BoC rate cut bets cap further gains ahead of retail sales release.
EUR: Euro edges lower following mixed PMI readings that reinforce underlying softness, speculation over a potential early exit by Christine Lagarde adds pressure.
GBP: Sterling’s slide pauses as it rebounds slightly from weekly lows after stronger-than-expected UK retail sales and PMIs, dovish BoE expectations limit upside.
JPY: Yen retains a soft tone into the week’s close, drifting lower after weaker-than-expected inflation data tempers hawkish Bank of Japan expectations.
AUD: Aussie dollar remains range-bound near recent highs, supported by a tight labour market and rate hike bets, though a hawkish FOMC caps further advances.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX update, markets are closely aligned with the economic calendar as markets assess fresh US data and central bank commentary for direction. The FX calendar highlights Factory Orders as a key gauge of business momentum, with a stronger reading potentially lending support to the US dollar today, while softer data could reinforce its recent consolidation. Traders will also closely monitor remarks from Fed Governor Waller for signals on policy timing and inflation risks, which may shape near-term expectations for rates. With limited Canadian releases on the docket, the Canadian dollar today is likely to take cues from broader USD moves, keeping FX flows sensitive to any surprises on the US side.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news suggests a steady but restrained outlook, with the Canadian dollar rate today holding largely stable as broader US developments dominate direction. With the US dollar reacting to Factory Orders data and Fed Waller’s remarks, the loonie is likely to remain sensitive to shifts in USD sentiment rather than domestic drivers. While the absence of major Canadian releases limits fresh catalysts, global risk trends and commodity price movements could still influence positioning. Unless US data significantly alters rate expectations, the Canadian dollar rate today may continue to consolidate rather than stage a decisive recovery.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On February 23, 2026, the USD/CAD pair is trading at 1.3671, representing a -0.02% move in the last 24 hours.

USD/CAD highlights

USD capped by trade policy uncertainty: The US dollar moves sideways as ongoing uncertainty around US trade policy and the Supreme Court tariff ruling keeps pressure on the greenback, leaving USD/CAD confined to a narrow range.
Legal and tariff risks cloud USD outlook: With markets awaiting clearer direction on trade measures, sentiment toward the dollar remains cautious, limiting conviction in CAD to USD positioning.
CAD steady despite oil pullback:The Canadian dollar holds firm even as crude retreats from six-month highs, preventing USD/CAD from gaining sustained upside momentum.
Demand concerns temper CAD strength:Trade war-related demand worries continue to cap enthusiasm for the commodity-linked loonie, keeping CAD to USD flows balanced rather than decisively bullish.

Economic news impacting USD/CAD today

US Fed Waller Speech
US Factory Orders
US Chicago Fed National Activity

Daily trading range

USD/CAD pair is fluctuating within a recent 1.3650–1.3750 range and holding near the mid-range of that band with a neutral bias.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
On February 23, 2026, the EUR/CAD pair is trading at 1.6127, representing a 0.08% move in the last 24 hours.

EUR/CAD highlights

Euro firms on renewed USD pressure:The euro edges higher as uncertainty around US trade policy weighs on the dollar, lending modest support to EUR/CAD.
Soft German IFO caps upside: A weaker German IFO survey tempers enthusiasm, limiting stronger advances in CAD to EUR flows.
EUR/CAD gains remain measured:While broader USD softness offers near-term support, underlying eurozone softness keeps EUR/CAD biased toward cautious consolidation rather than a sustained breakout.

Economic news impacting EUR/CAD today

ECB President Lagarde Speech

Daily trading range

EUR/CAD today is fluctuating within a recent 1.6050–1.6200 range and holding near the upper end of that band with a mildly constructive bias.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
On February 23, 2026, the GBP/CAD pair is trading at 1.84693, representing a 0.16% move in the last 24 hours.

GBP/CAD highlights

BoE cut bets cap upside:Ongoing expectations of potential Bank of England rate cuts keep GBP/CAD advances measured, preventing a decisive bullish breakout.
Sterling edges higher on firmer data: The pound gains modest traction after stronger UK retail sales and PMI readings, lifting GBP/CAD from recent lows.
Data support offsets macro caution: Improved domestic indicators help stabilize CAD to GBP flows, easing immediate downside pressure.

Economic news impacting GBP/CAD today

BoE Gov Bailey Speech

Daily trading range

GBP/CAD is fluctuating within a recent 1.8350–1.8550 range and holding near the upper end of that band with a mildly constructive bias.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
On February 23, 2026, the CAD/JPY pair is trading at 113.191, representing a -0.09% move in the last 24 hours.

CAD/JPY highlights

Yen strengthens on safe-haven demand:The Japanese yen gains ground as investors seek safety following volatility triggered by the US tariff ruling.
Risk aversion lifts JPY:Heightened uncertainty boosts defensive flows into the yen, supporting it against higher-beta currencies.
CAD/JPY pressured by haven flows: As the yen outperforms commodity-linked peers, CAD/JPY faces downside pressure amid shifting risk sentiment.

Economic news impacting CAD/JPY today

Corporate Services Price Index

Daily trading range

CAD/JPY today is fluctuating within a recent 112.50–114.00 range and holding near the mid-range 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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