Is USD to CAD going up or down?

As of January 28, 2026, the exchange rate for USD to CAD is 1.3586, denoting a 0.12% 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 1.3586, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.62162, while the British pound sits around 1.86919 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 113.08, 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 1.3586. 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 0.12% 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.

Get currency alerts delivered straight to your inbox.

Set an alert

Written by Ash Abbasi

January 28, 2026

Canadian Dollar News - CAD firm near highs after expected BoC hold

The exchange rate for USD/CAD is trading with a softer bias as the US dollar rate today gives up an intraday rebound and slides back toward overnight lows. Markets are increasingly pricing in a Federal Reserve hold, with sentiment further weighed by uncertainty surrounding the presidential decision on Jerome Powell’s successor. This combination is keeping the greenback on the defensive and limiting any sustained recovery. Meanwhile, the Canadian dollar rate today remains well supported near fresh highs, underpinned by rising crude prices and steady confidence ahead of the Bank of Canada’s rate decision. With investors focused on BoC guidance for clues on the future policy path, the CAD to USD rate remains constructive. Barring a surprise shift in central bank messaging, the broader exchange rate is likely to stay range-bound rather than break into a decisive trend.

Today's Global Currency Highlights

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

USD: US dollar’s intraday rebound fizzles out, slides to overnight lows amid markets pricing in a Fed hold as presidential decision on Powell's successor looms.
CAD: Canadian dollar remains well supported near fresh highs on rising crude, as investors await the BoC rate decision and guidance on the future policy path.
EUR: Euro undergoes a sharp corrective pullback on profit-taking after touching multi-year highs overnight, markets eye central bank decisions for direction.
GBP: Sterling also retreats from weekly peaks as investors pare USD shorts, but a run of strong recent data helps caps downside ahead of dual Fed, BoC decisions.
JPY: Yen trades uneven within a familiar range, with bears cautious on hawkish BoJ, while fiscal concerns, positive tone and political uncertainty add headwinds.
AUD: Aussie trades choppily near recent highs after robust inflation reinforces RBA rate-hike expectations, with persistent USD weakness providing support.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX spotlight, attention is firmly on a high-impact economic calendar, with interest rate decisions from both the Bank of Canada and the Federal Reserve topping the FX calendar. The BoC verdict will be key for assessing the near-term outlook for the Canadian dollar today, particularly any guidance on how long policy is likely to remain restrictive. South of the border, the Fed’s decision and accompanying commentary will be closely scrutinized for signals on rate timing and inflation risks, shaping broader sentiment around the US dollar today as markets gauge whether policy paths on both sides are beginning to diverge.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news points to a cautiously steady outlook, with the Canadian dollar rate today trading near recent highs as markets brace for the Bank of Canada’s rate decision. A widely expected hold is largely priced in, leaving forward guidance as the key driver for direction. If the BoC maintains a firm tone on inflation risks, the loonie could remain supported, while any hint of a softer policy bias may trigger near-term pullbacks.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On January 28, 2026, the USD/CAD pair is trading at 1.3586, representing a 0.12% move in the last 24 hours.

USD/CAD highlights

USD rebound fades amid Fed hold pricing: The US dollar gives up intraday gains and slides back toward overnight lows as markets increasingly price in a Fed hold.
Powell succession uncertainty weighs on USD: Ongoing uncertainty around the presidential decision on Jerome Powell’s successor is adding to caution and limiting USD recovery attempts.
CAD holds near fresh highs on oil strength: he Canadian dollar remains well supported as rising crude prices continue to underpin sentiment.
BoC decision key for CAD direction: Investors are focused on the Bank of Canada’s rate decision and forward guidance for clues on the future policy path and whether CAD strength can be sustained.

Economic news impacting USD/CAD today

US Federal Reserve Interest Rate Decision
Canada Bank of Canada Interest Rate Decision

Daily trading range

USD/CAD pair is fluctuating within a recent 1.3500–1.3800 range and holding near the lower end of that band with a mildly bearish bias.

Looking for the best USD/CAD exchange rate?

Convert CAD to USD

EUR/CAD Daily Update

What’s the EUR/CAD rate today?
On January 28, 2026, the EUR/CAD pair is trading at 1.62162, representing a -0.74% move in the last 24 hours.

EUR/CAD highlights

Euro pulls back sharply on profit-taking: The euro undergoes a corrective drop after touching multi-year highs overnight, as investors lock in gains.
Momentum cools after extended rally: With much of the bullish narrative already priced in, follow-through has faded, prompting a reassessment of short-term positioning.
Central bank decisions in focus for EUR direction: Attention now turns to upcoming central bank verdicts, which are expected to determine whether the euro stabilizes or extends its pullback.

Economic news impacting EUR/CAD today

ECB Schanbel's Speech

Daily trading range

EUR/CAD today is fluctuating within a recent 1.6100–1.6400 range and holding near the middle of that band with a neutral bias.

Save more on the EUR/CAD exchange rate.

Convert CAD to EUR

GBP/CAD Daily Update

What’s the GBP/CAD rate today?
On January 28, 2026, the GBP/CAD pair is trading at 1.86919, representing a -0.48% move in the last 24 hours.

GBP/CAD highlights

Sterling pulls back from weekly highs: The pound retreats as investors scale back USD short positions, triggering some profit-taking after recent gains.
Strong data helps limit GBP downside: A run of solid UK economic releases continues to underpin sentiment, preventing a deeper pullback despite the softer tone.
Fed and BoC decisions in focus: Attention now turns to upcoming central bank decisions, which are expected to play a key role in shaping near-term GBP direction.

Economic news impacting GBP/CAD today

Consumer Credit (Friday)

Daily trading range

GBP/CAD is fluctuating within a recent 1.8550–1.8850 range and holding near the upper end of that band with a firm bias.

Don't overpay on CAD to GBP exchange rate.

Convert CAD to GBP

CAD/JPY Daily Update

What’s the CAD/JPY rate today?
On January 28, 2026, the CAD/JPY pair is trading at 113.08, representing a 0.81% move in the last 24 hours.

CAD/JPY highlights

Yen trades uneven within familiar range: The yen moves choppily as price action remains confined, with neither side showing strong conviction.
Hawkish BoJ keeps bears cautious: Expectations that the Bank of Japan will maintain a relatively hawkish stance are discouraging aggressive JPY selling.
Fiscal and political risks cap upside: Ongoing fiscal concerns, a generally positive risk tone, and political uncertainty continue to add headwinds, limiting any sustained yen recovery.

Economic news impacting CAD/JPY today

Foreign Bonds Buying

Daily trading range

CAD/JPY today is fluctuating within a recent 111.50–114.00 range and holding near the lower end of that band with a mildly softer bias.

Get bank-beating CAD to JPY exchange rates.

Convert CAD to JPY

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

FX Weekly Market Updates

CAD Monthly Currency Forecast

USD Monthly Forecast Report

CAD 5 Bank Forecast

Read our latest blogs

A panoramic view of Puerto Vallarta's coastline, featuring sandy beaches, the Pacific Ocean, and the city's vibrant buildings nestled between lush green hills.

Retire Overseas Mexico

Top 10 Places for Canadians Retiring in Mexico

FAQs - FX Daily