Is USD to CAD going up or down?

As of January 2, 2026, the exchange rate for USD to CAD is 1.37302, denoting a 0.06% 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 1.37302, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61252, while the British pound sits around 1.85256 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 114.087, 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 1.37302. 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 0.06% 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 2, 2026

Canadian Dollar News - Canadian dollar eases into 2026 ahead of PMIs

The USD/CAD exchange rate is opening the new year with a cautious but firmer bias as markets adjust to early-2026 signals. The US dollar rate today is edging higher in subdued trading, with investors keeping a close eye on upcoming PMI data and developments around President Trump’s expected nomination for the next Federal Reserve chair, both of which could influence the policy outlook. These dynamics are shaping the near-term CAD to USD direction as participants look for fresh catalysts. Meanwhile, the Canadian dollar rate today is starting the year slightly on the back foot, though downside pressure remains limited as a broadly dovish Fed backdrop and firmer oil prices continue to provide support. With key PMI releases ahead, the exchange rate is likely to remain range-bound in the near term, driven more by global sentiment than domestic fundamentals.

Today's Global Currency Highlights

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

USD: US dollar kicks off 2026 on a mildly firmer footing amid subdued markets, PMIs in focus as investors brace for signals around Trump’s next Fed chair nomination.
CAD: Canadian dollar starts the year slightly on the back foot, a dovish Fed backdrop and firmer oil prices help cushion downside risks ahead of key PMI releases.
EUR: Euro slips to fresh one-week lows after EU manufacturing activity contracts more sharply than expected in December, ECB–Fed divergence helps limit further losses.
GBP: Sterling edges lower after manufacturing PMI gets revised down to 50.6 from 51.2, while Fed–BoE policy divergence continues to provide underlying support.
JPY: Yen’s weak tone carries into the new year as the cautious pace of BoJ tightening weighs on sentiment, keeping the currency under pressure against its major peers.
AUD: Australian dollar rebounds toward recent highs on improving risk appetite, with expectations of RBA rate hikes and hawkish Bullock continue to support the Aussie.

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 and FX calendar, with PMI data in focus on both sides of the border. Markets will be watching the S&P Global Manufacturing PMI releases from the US and Canada for fresh insight into industrial momentum, which could influence near-term sentiment around the US dollar today and the Canadian dollar today. A stronger US print may lend support to the greenback, while an improvement in Canada’s PMI could help underpin the loonie. With policy expectations finely balanced, the data may set the tone for short-term FX moves.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news suggests a cautious, data-dependent outlook, with the Canadian dollar rate today lacking clear momentum as markets await fresh signals on manufacturing activity. With both US and Canadian PMI data in focus, the loonie is being guided more by relative growth signals than domestic fundamentals alone. While steady oil prices and stable Bank of Canada expectations continue to provide a floor, uncertainty around global demand and the US outlook is likely to keep the Canadian dollar trading cautiously near recent levels rather than breaking into a sustained trend.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On January 2, 2026, the USD/CAD pair is trading at 1.37302, representing a 0.06% move in the last 24 hours.

USD/CAD highlights

USD firms modestly at start of 2026: The US dollar opens the year on a slightly stronger footing amid subdued market conditions, with PMIs in focus as investors look for early signals on potential implications from Trump’s upcoming Fed chair nomination.
Policy signals in focus for USD direction: Expectations around future Fed leadership are adding an extra layer of uncertainty, keeping USD moves measured as markets await clearer guidance from economic data.
CAD starts year on softer footing: The Canadian dollar edges lower at the start of 2026, reflecting cautious positioning ahead of key PMI releases and limited domestic catalysts.
Oil prices and dovish Fed cushion CAD downside: Firmer crude prices and a broadly dovish Federal Reserve backdrop are helping limit losses for the loonie, keeping CAD moves contained despite early-year softness.

Economic news impacting USD/CAD today

US S&P Global Manufacturing PMI
Canada S&P Global Manufacturing PMI

Daily trading range

USD/CAD today is fluctuating within a recent 1.3650–1.3800 range and holding near the middle of that band with a neutral-to-slightly upward bias.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
On January 2, 2026, the EUR/CAD pair is trading at 1.61252, representing a 0.05% move in the last 24 hours.

EUR/CAD highlights

Euro slips on weaker manufacturing data: The euro falls to fresh one-week lows after EU manufacturing activity contracted more sharply than expected in December, weighing on near-term sentiment and pressuring EUR/CAD.
ECB–Fed divergence limits EUR downside: Despite the softer data, ongoing policy divergence between the ECB and the Fed is helping cap losses, providing some stability to CAD to EUR rate.
EUR remains fragile near term: With growth concerns resurfacing, the euro is likely to remain sensitive to incoming data, leaving EUR/CAD vulnerable to further downside unless sentiment improves.

Economic news impacting EUR/CAD today

Investor Confidence (Monday)

Daily trading range

EUR/CAD today is fluctuating within a recent 1.6000–1.6200 range and holding near the middle of that band with a neutral bias.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
On January 2, 2026, the GBP/CAD pair is trading at 1.85256, representing a 0.29% move in the last 24 hours.

GBP/CAD highlights

Sterling eases after PMI revision: The pound edges lower after UK manufacturing PMI was revised down to 50.6 from 51.2, tempering near-term optimism and nudging GBP/CAD slightly lower.
Policy divergence cushions GBP downside: Despite softer data, ongoing Fed–BoE policy divergence continues to provide underlying support for sterling, helping stabilize CAD to GBP rate.
Range-bound bias persists for GBP: With growth signals mixed but policy support intact, sterling is likely to remain range-bound in the near term, leaving GBP/CAD sensitive to shifts in broader USD sentiment rather than UK data alone.

Economic news impacting GBP/CAD today

BoE Consumer Credit (Monday)

Daily trading range

GBP/CAD is fluctuating within a recent 1.8400–1.8600 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 2, 2026, the CAD/JPY pair is trading at 114.087, representing a -0.13% move in the last 24 hours.

CAD/JPY highlights

Yen stays under pressure into the new year: The yen’s weak tone carries into early 2026 as the Bank of Japan’s cautious pace of tightening continues to weigh on sentiment, keeping CAD/JPY supported.
Slow BoJ normalization weighs on JPY: Persistent uncertainty around the timing and scale of further BoJ tightening is limiting yen demand, leaving CAD to JPY tilted toward the upside.
Downside bias persists for JPY: Until clearer signs of policy acceleration emerge, the yen is likely to remain under pressure against major peers, leaving CAD/JPY sensitive to shifts in global risk appetite.

Economic news impacting CAD/JPY today

Manufacturing PMI (Sunday)

Daily trading range

CAD/JPY today is fluctuating within a recent 113.50–115.50 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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