Is USD to CAD going up or down?

As of December 16, 2025, the exchange rate for USD to CAD is 1.37408, denoting a -0.20% 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 1.37408, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61738, while the British pound sits around 1.84478 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 112.575, 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 1.37408. 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 -0.20% 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

December 16, 2025

Canadian Dollar News - Loonie holds near highs ahead of US data

The US dollar rate today remains under pressure as markets count down to the nonfarm payrolls report and a slate of mid-tier data, with investors waiting for fresh catalysts to drive directional bets. At the same time, the Canadian dollar rate today is trading flat near recent highs, though upside momentum has faded after headline CPI undershot expectations, shifting attention to Governor Macklem’s upcoming comments for policy clues. With neither side showing a decisive edge, CAD to USD movements remain contained, leaving the exchange rate largely range-bound until clearer signals emerge from labour data and central bank commentary.

Today's Global Currency Highlights

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

USD: US dollar remains under pressure in the countdown to the nonfarm payrolls and a slate of mid-tier data, markets await fresh catalysts for directional bets.
CAD: Canadian dollar trades flat near recent highs, though upside momentum fades after headline CPI undershoots expectations, Macklem's comments in spotlight.
EUR: Euro turns choppy but manages to retain most of its overnight gains, even as EU services and manufacturing activity deteriorates more than anticipated.
GBP: Sterling rallies to multi-week highs after manufacturing and services PMIs surprise to the upside, but gains stay capped on dovish BoE expectations.
JPY: Yen claws back part of its weekly losses, looks poised for further gains as the Tankan survey strengthens the case for BoJ tightening, firming hike bets.
AUD: Australian dollar remains subdued despite a softer USD, concerns over China’s economy and ongoing risk-off mood continues to weigh on performance.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX spotlight, traders are bracing for a packed economic calendar led by Governor Macklem’s speech in Canada and a heavy slate of US data, including Nonfarm Payrolls, the Unemployment Rate, Retail Sales, Housing Starts, Building Permits, and S&P Global Manufacturing and Services PMIs. These releases dominate the FX calendar and are expected to set the tone for near-term positioning. The Canadian dollar today will take cues from Macklem’s comments on inflation and growth, while the US dollar today remains highly sensitive to labour-market strength and consumer demand signals that could reshape expectations around the Fed’s policy path.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

Today’s Canadian dollar news suggests limited near-term conviction, with the Canadian dollar rate today sensitive to Governor Macklem’s remarks and a dense US data slate led by Nonfarm Payrolls. While Canadian commentary may offer guidance on inflation and growth, broader direction for the loonie is likely to be driven by shifts in US labour, consumption, and PMI data. Until clearer signals emerge, CAD is expected to remain range-bound, reacting more to external catalysts than domestic momentum.

USD/CAD Daily Update

What’s the USD/CAD rate today?
As of December 16, 2025, the USD/CAD pair trades at 1.37408, representing a -0.20% move in the last 24 hours.

USD/CAD highlights

USD stays pressured ahead of key labour data: The US dollar remains on the back foot as markets count down to the nonfarm payrolls, keeping USD/CAD biased lower as traders wait for a directional catalyst.
Mid-tier data to shape USD sentiment: With several supporting releases also due, incoming data will be closely watched to see whether softness in CAD to USD flows persists or if the greenback can stabilize.
CAD trades flat near recent highs: The Canadian dollar holds steady close to recent peaks, leaving USD/CAD largely range-bound as markets digest mixed domestic signals.
CPI miss shifts focus to Macklem: After headline inflation undershot expectations, attention turns to Governor Macklem’s comments, which could influence CAD to USD positioning.

Economic news impacting USD/CAD today

Canada Governor Macklem's Speech
US Nonfarm Payrolls
US Retail Sales
US Housing Starts + Building Permits
US Manufacturing + Services PMIs

Daily trading range

USD/CAD today is holding within a 1.3720–1.3810 range as the pair consolidates near the lower half amid ongoing USD pressure.

Looking for the best USD/CAD exchange rate?

Convert CAD to USD

EUR/CAD Daily Update

What’s the EUR/CAD rate today?
As of December 16, 2025, the EUR/CAD pair trades at 1.61738, representing a -0.02% move in the last 24 hours.

EUR/CAD highlights

Euro turns choppy but holds gains: The euro trades unevenly yet manages to retain most of its overnight advance, keeping EUR/CAD supported despite fading momentum.
Weak activity data weighs on sentiment: Sharper-than-expected deterioration in EU services and manufacturing tempers enthusiasm, influencing CAD to EUR flows as traders reassess the growth outlook.
EUR outlook hinges on data follow-through: With volatility picking up, further confirmation from incoming Eurozone data will be key in determining whether EUR/CAD can sustain its gains or slip back into consolidation.

Economic news impacting EUR/CAD today

CFTC EUR speculative net positions

Daily trading range

EUR/CAD today is holding within a 1.6150–1.6240 range as the pair consolidates near the upper band.

Save more on the EUR/CAD exchange rate.

Convert CAD to EUR

GBP/CAD Daily Update

What’s the GBP/CAD rate today?
As of December 16, 2025, the GBP/CAD pair trades at 1.84478, representing a 0.24% move in the last 24 hours.

GBP/CAD highlights

Sterling jumps on upbeat PMI surprises: The pound rallies to multi-week highs after manufacturing and services PMIs beat expectations, lifting GBP/CAD toward the top of its recent range.
Dovish BoE outlook caps further gains: Despite stronger activity data, lingering expectations for a more accommodative BoE stance are limiting upside, tempering momentum in CAD to GBP rate.
GBP momentum faces policy test: While near-term sentiment has improved, GBP/CAD remains sensitive to shifts in BoE expectations, leaving the pound vulnerable to pullbacks if policy rhetoric turns more cautious.

Economic news impacting GBP/CAD today

CFTC GBP speculative net positions

Daily trading range

GBP/CAD today is holding within a 1.8430–1.8525 range as the pair consolidates near recent highs.

Don't overpay on CAD to GBP exchange rate.

Convert CAD to GBP

CAD/JPY Daily Update

What’s the CAD/JPY rate today?
As of December 16, 2025, the CAD/JPY pair trades at 112.575, representing a -0.10% move in the last 24 hours.

CAD/JPY highlights

Yen recovers as tightening bets firm: The yen claws back part of its weekly losses as the Tankan survey reinforces expectations for BoJ tightening, pushing CAD/JPY lower.
Survey strength lifts JPY sentiment: Improved business confidence strengthens the case for a rate hike, supporting a higher CAD to JPY rate as yield differentials begin to narrow.
JPY outlook improves on policy expectations: With hike bets firming, CAD/JPY appears poised for further downside if incoming data continues to back a shift in BoJ policy.

Economic news impacting CAD/JPY today

Trade Balance
Imports + Exports

Daily trading range

CAD/JPY today is holding within a 111.90–112.90 range as the pair consolidates amid improving yen sentiment.

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