Is USD to CAD going up or down?

As of February 2, 2026, the exchange rate for USD to CAD is 1.36679, denoting a 0.38% 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 1.36679, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61432, while the British pound sits around 1.86388 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 113.656, 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 1.36679. 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 0.38% 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

February 2, 2026

Canadian Dollar News - CAD range-bound as GDP stalls, oil prices ease

The USD/CAD exchange rate is trading with a steady-to-firmer tone early in February, as the US dollar rate today finds support from calmer sentiment around Federal Reserve independence following the Kevin Warsh pick, while upcoming PMI releases are expected to shape near-term direction. This firmer USD backdrop has kept the CAD to USD rate broadly balanced rather than decisively one-sided. At the same time, the Canadian dollar rate today is edging modestly softer after November GDP stalled, with a pullback in oil prices adding pressure ahead of domestic and global PMI data. With neither side offering a clear catalyst, the exchange rate is likely to remain range-bound in the near term, sensitive to incoming growth data and energy market moves rather than breaking into a sustained trend.

Today's Global Currency Highlights

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

USD: US dollar opens February on a mildly firmer note as the Kevin Warsh pick helps calm concerns over Fed independence, PMI releases to set this week's tone.
CAD: Canadian dollar trades modestly softer at the start of the week after GDP stalls in November, a pullback in oil prices adds pressure ahead of PMIs.
EUR: Euro remains subdued, consolidates recent losses after Friday’s drop, though upward revisions to EU and German manufacturing PMIs help provide a floor.
GBP: Sterling eases in early trade but downside remains limited as markets expect the Bank of England to keep rates unchanged at 3.75% in upcoming meeting.
JPY: Yen struggles to attract fresh demand after comments from PM Takaichi on Monday praising a weaker currency pushes the JPY broadly lower.
AUD: Australian dollar drifts slightly lower but retains underlying strength, with markets expecting the RBA to lift its OCR by 25 bps to 4% on Tuesday.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX spotlight, attention is firmly on the economic calendar, with North American manufacturing data set to guide near-term price action. Canada’s S&P Global Manufacturing PMI will be closely watched for signs of momentum in factory activity, with a firmer reading offering modest support to the Canadian dollar today, while ongoing softness could reinforce a cautious tone. On the US side, both the S&P Global and ISM Manufacturing PMIs sit at the top of the FX calendar, as markets assess whether resilient activity can keep the US dollar today supported amid shifting rate expectations. With key releases clustered in a single session, FX markets are likely to remain reactive to data surprises rather than settle into a clear directional trend.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news suggests a measured and cautious outlook, with the Canadian dollar rate today trading on a softer footing as markets digest weaker growth signals and a pullback in oil prices. With GDP momentum having stalled and PMIs now in focus, the loonie remains sensitive to incoming domestic data for signs of stabilization. Absent a clear improvement in activity or a rebound in energy markets, near-term price action is likely to remain constrained, leaving the Canadian dollar vulnerable to drifting rather than establishing a sustained recovery.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On February 2, 2026, the USD/CAD pair is trading at 1.36679, representing a 0.38% move in the last 24 hours.

USD/CAD highlights

USD steadies as Fed confidence improves: The US dollar opens February on a mildly firmer note after the Kevin Warsh pick eases concerns over Fed independence, helping stabilise USD/CAD and steady CAD to USD flows.
PMIs to guide near-term USD tone: Upcoming US PMI releases will be key for confirming growth momentum, with firmer data likely to keep USD/CAD supported.
CAD softens after GDP stalls: The Canadian dollar trades modestly weaker following flat November GDP, leaving CAD to USD exposed to near-term pressure.
Oil pullback adds to CAD caution: Softer crude prices and upcoming PMIs will shape whether the loonie can stabilise or if USD/CAD retains the upper hand.

Economic news impacting USD/CAD today

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

Daily trading range

USD/CAD pair is fluctuating within a recent 1.3600–1.3750 range and holding near the lower end of that band with a mild downward 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 February 2, 2026, the EUR/CAD pair is trading at 1.61432, representing a 0.07% move in the last 24 hours.

EUR/CAD highlights

Euro consolidates after recent pullback: The euro remains subdued, stabilising after Friday’s decline as markets digest recent losses, keeping EUR/CAD anchored near familiar levels.
Revised PMIs offer modest EUR support: Upward revisions to EU and German manufacturing PMIs are helping to put a floor under the single currency, limiting downside pressure on CAD to EUR moves.
EUR direction remains data-led: With sentiment still cautious, further economic updates will be key in determining whether EUR/CAD can stabilise or if renewed softness emerges.

Economic news impacting EUR/CAD today

ECB Bank Lending Survey (Tuesday)

Daily trading range

EUR/CAD today is fluctuating within a recent 1.6100–1.6300 range and holding near the middle of that band with a neutral-to-soft 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 February 2, 2026, the GBP/CAD pair is trading at 1.86388, representing a 0.04% move in the last 24 hours.

GBP/CAD highlights

Sterling edges lower in early trade: The pound softens modestly at the start of the session, though moves in GBP/CAD remain contained as selling pressure stays limited.
BoE expectations cap GBP downside: With markets widely expecting the Bank of England to keep rates unchanged at 3.75%, downside in the CAD to GBP rate has so far been restrained.
GBP direction hinges on policy signals: Ahead of the upcoming BoE meeting, any shift in guidance could influence whether GBP/CAD stabilises or reopens downside risk.

Economic news impacting GBP/CAD today

S&P Global Manufacturing PMI (Wednesday)

Daily trading range

GBP/CAD is fluctuating within a recent 1.8600–1.8850 range and holding near the middle of that band with a mildly neutral 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 February 2, 2026, the CAD/JPY pair is trading at 113.656, representing a 0.00% move in the last 24 hours.

CAD/JPY highlights

Yen weakens as policy rhetoric weighs: The Japanese yen struggles to attract fresh demand after comments from PM Takaichi praising a weaker currency push JPY broadly lower, lifting CAD/JPY in early trade.
Political signals cap JPY appeal: Official tolerance for yen weakness continues to limit safe-haven inflows, keeping pressure on JPY to CAD despite uneven global risk sentiment.
JPY outlook remains policy-driven: With domestic rhetoric overshadowing fundamentals, near-term moves in CAD/JPY are likely to stay biased higher unless policy messaging shifts.

Economic news impacting CAD/JPY today

10-Year JGB Auction

Daily trading range

CAD/JPY today is fluctuating within a recent 112.50–115.00 range and holding near the lower end of that band with a mildly defensive 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