Is USD to CAD going up or down?

As of February 4, 2026, the exchange rate for USD to CAD is 1.36598, denoting a 0.18% 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 1.36598, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61277, while the British pound sits around 1.86481 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 114.87, 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 1.36598. 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 0.18% 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 4, 2026

Canadian Dollar News - CAD edges toward weekly lows amid firmer USD

USD/CAD performance remains subdued, with the US dollar rate today holding its ground mid-week but lacking clear directional conviction as markets largely remain on the sidelines. With ADP employment expected to show only modest job gains in January, investors are reluctant to reposition aggressively, keeping the exchange rate broadly contained rather than trend-driven. Meanwhile, the Canadian dollar rate today is drifting toward weekly lows amid a firmer USD backdrop, as markets look ahead to remarks from Governor Macklem and closely watched domestic employment data later this week. Until labour figures or central bank signals provide a clearer catalyst, CAD to USD is likely to remain range-bound, guided more by relative data surprises than by a sustained shift in sentiment.

Today's Global Currency Highlights

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

USD: US dollar holds its ground mid-week but lacks directional conviction as markets stay on the sidelines, ADP employment expected to show modest gains in January.
CAD: Loonie drifts toward weekly lows amid a firmer USD, with remarks from Governor Macklem and upcoming employment data later this week set to shape sentiment.
EUR: Euro posts mild gains after inflation data matches expectations, though weaker manufacturing figures temper enthusiasm, keeping attention on the ECB stance.
GBP: Sterling advances against its peers on expectations that the BoE will leave interest rates unchanged on Thursday, US data remains the next key driver.
JPY: Yen extends its decline toward two-week lows as fiscal concerns and political uncertainty outweigh upbeat data, hawkish BoJ tilt offers limited support.
AUD: Aussie eases from intraday highs but stays near three-year peaks on favourable rate differentials, hawkish RBA expectations continue to provide tailwinds.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX spotlight, attention turns to a busy economic calendar, with services activity and labour data dominating the FX calendar and guiding near-term sentiment. In the US, ADP employment figures and JOLTS job openings will be closely watched for clues on labour market momentum, while the S&P Global and ISM Services PMIs will help shape expectations for growth and inflation, influencing the US dollar today. In Canada, the S&P Global Services PMI will offer insight into domestic demand conditions, with any signs of resilience lending support to the Canadian dollar today, while softer readings could reinforce a cautious tone as markets react to US-driven signals.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news points to a cautiously balanced outlook, with the Canadian dollar rate today lacking clear momentum as markets weigh mixed domestic signals against a heavy US data backdrop. While resilient services activity or stabilizing labour conditions could offer near-term support, broader gains are likely to remain limited unless data surprises materially to the upside. For now, the loonie is expected to trade within a narrow range, reacting to incoming economic releases rather than breaking into a sustained directional move.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On February 4, 2026, the USD/CAD pair is trading at 1.36598, representing a 0.18% move in the last 24 hours.

USD/CAD highlights

USD firm but lacks conviction mid-week: The US dollar holds its ground as markets remain on the sidelines, with limited follow-through ahead of ADP employment data expected to show modest January job gains.
ADP data to guide USD tone: Traders are watching the ADP release for confirmation of labour market resilience, which could influence short-term direction and broader risk sentiment.
CAD drifts toward weekly lows: The loonie softens against a firmer USD backdrop, with pressure building as momentum fades in the absence of strong domestic catalysts.
Macklem remarks and jobs data in focus: Upcoming comments from Governor Macklem and Canadian employment figures later this week will be critical in shaping near-term CAD sentiment.

Economic news impacting USD/CAD today

US ADP Nonfarm Employment Change
US S&P Global Services PMI
US ISM Services PMI
Canada S&P Global Services 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.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
On February 4, 2026, the EUR/CAD pair is trading at 1.61277, representing a 0.09% move in the last 24 hours.

EUR/CAD highlights

Euro edges higher after inflation data: The euro posts modest gains as inflation figures come in line with expectations, lending near-term support to EUR/CAD.
Weak manufacturing caps EUR upside: Softer manufacturing data is tempering enthusiasm, limiting follow-through in CAD to EUR moves despite stable inflation signals.
ECB stance remains key for EUR direction: With data sending mixed signals, markets remain focused on ECB guidance to determine whether EUR/CAD can extend gains or stay range-bound.

Economic news impacting EUR/CAD today

EU Construction PMI (Thursday)
Retail Sales (Thursday)
ECB Interest Rate Decision (Thursday)

Daily trading range

EUR/CAD today is fluctuating within a recent 1.6050–1.6250 range and holding near the middle of that band with a mildly neutral bias.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
On February 4, 2026, the GBP/CAD pair is trading at 1.86481, representing a -0.14% move in the last 24 hours.

GBP/CAD highlights

Sterling gains on policy expectations: The pound advances against its peers as markets expect the Bank of England to leave interest rates unchanged, supporting GBP/CAD in early trade.
BoE outlook underpins GBP tone: Steady rate expectations are helping limit volatility in CAD to GBP moves, keeping sterling supported near recent levels.
US data to shape GBP follow-through: With the BoE largely priced in, upcoming US data will be key in determining whether GBP/CAD can extend gains or stalls.

Economic news impacting GBP/CAD today

S&P Global Construction PMI (Thursday)
BoE Interest Rate Decision (Thursday)

Daily trading range

GBP/CAD is fluctuating within a recent 1.8650–1.8900 range and holding near the upper-middle of that band with a mildly firm bias.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
On February 4, 2026, the CAD/JPY pair is trading at 114.87, representing a 0.61% move in the last 24 hours.

CAD/JPY highlights

Yen weakens toward two-week lows: The yen extends its decline as fiscal concerns and political uncertainty continue to undermine confidence, keeping CAD/JPY supported.
Political and fiscal risks outweigh data: Despite some upbeat domestic data, ongoing uncertainty is limiting demand for the yen, capping upside across JPY/CAD moves.
BoJ hawkish tilt offers limited relief: A slightly firmer BoJ stance has so far failed to reverse sentiment, leaving near-term direction in CAD/JPY biased higher unless policy signals strengthen.

Economic news impacting CAD/JPY today

30-Year JGB Auction

Daily trading range

CAD/JPY today is fluctuating within a recent 113.50–116.00 range and holding near the middle of that band with a mildly firm 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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