Is USD to CAD going up or down?

As of February 3, 2026, the exchange rate for USD to CAD is 1.36409, denoting a -0.29% 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 1.36409, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61154, while the British pound sits around 1.8679 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 114.219, 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 1.36409. 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 -0.29% 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 3, 2026

Canadian Dollar News - Canadian dollar stuck in neutral as uncertainty lingers

USD/CAD performance reflects a steady but cautious tone, with the US dollar rate today holding broadly firm as political uncertainty around the US budget impasse tempers confidence, while stronger manufacturing data helps cap downside ahead of the JOLTS release. This balance has kept the exchange rate anchored rather than directional, as markets weigh policy risk against resilient activity data. At the same time, the Canadian dollar rate today is also holding steady, supported by rising commodity prices even as uncertainty persists around the upcoming and potentially unpredictable Canada–US–Mexico Agreement review. With neither side presenting a decisive catalyst, CAD to USD is likely to remain range-bound in the near term, drifting with headline risk and data surprises 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 holds broadly steady as budget impasse fuels uncertainty, stronger manufacturing data caps downside ahead of JOLTS release.
CAD:Canadian dollar holds steady as rising commodity prices offer support, while uncertainty lingers ahead of the unpredictable Canada–US–Mexico Agreement review.
EUR:Euro moving sideways as cautious risk sentiment and lack of fresh eurozone catalysts keep the cross range-bound ahead of European data.
GBP: Sterling holds steady as stronger UK manufacturing PMI lends support, focus shifts to flash eurozone HICP data on Wednesday.
JPY:Yen remains under pressure as political uncertainty and fiscal concerns ahead of the February 8 election cap upside.
AUD: Australian dollar outperform its peers after RBA delivers 25 bp rate hike, with tighter policy outlook bolstering AUD sentiment across FX markets.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX spotlight, attention is centred on the economic calendar, with US-focused events dominating the FX calendar and setting the tone for near-term price action. Scheduled speeches from FOMC members Barkin and Bowman will be closely watched for insight into policy timing and inflation risks, shaping sentiment around the US dollar today. Meanwhile, the release of JOLTS job openings will provide a key read on US labour market tightness, with any surprise influencing broader risk appetite and spillover moves in the Canadian dollar today, as markets remain highly sensitive to shifts in US data and Fed messaging. into a clear directional trend.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news signals a cautious near-term outlook, with the Canadian dollar rate today holding steady but lacking strong conviction as markets balance supportive commodity prices against lingering trade and policy uncertainty. With attention split between US political developments, upcoming labour data, and Fed commentary, the loonie remains sensitive to shifts in broader risk sentiment rather than domestic drivers alone. Unless clarity improves on trade risks or global demand, the Canadian dollar is likely to remain range-bound rather than establish a decisive trend.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On February 3, 2026, the USD/CAD pair is trading at 1.36409, representing a -0.29% move in the last 24 hours.

USD/CAD highlights

USD steadies amid political uncertainty: The US dollar holds broadly steady as uncertainty surrounding the budget impasse tempers confidence, though stronger manufacturing data continues to cap downside.
Trade uncertainty limits CAD upside:Lingering uncertainty ahead of the Canada–US–Mexico Agreement review is keeping gains in check, leaving CAD to USD direction sensitive to trade headlines and risk appetite.
JOLTS data to shape USD tone: Markets are looking to the upcoming JOLTS release for confirmation on labour market resilience, with a firm print likely to underpin the USD and influence near-term CAD to USD flows.
CAD supported by firmer commodities: The Canadian dollar holds steady as rising commodity prices provide underlying support, helping stabilise USD/CAD despite mixed global sentiment.

Economic news impacting USD/CAD today

US FOMC Member Barkin Speech
US FOMC Member Bowman Speech
US JOLTS Job Openings

Daily trading range

USD/CAD pair is fluctuating within a recent 1.3650–1.3800 range and holding near the lower-middle of that band with a modest neutral-to-soft bias.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
On February 3, 2026, the EUR/CAD pair is trading at 1.61154, representing a -0.03% move in the last 24 hours.

EUR/CAD highlights

JOLTS Job Openings: The euro is moving in a narrow range as cautious risk sentiment limits conviction, keeping EUR/CAD largely range-bound.
Lack of catalysts caps EUR momentum:With no major eurozone drivers in play, upside in CAD to EUR moves remains restrained as markets await clearer signals.
European data to guide next EUR move:Upcoming releases will be key in determining whether EUR/CAD can break out of its recent range or continue consolidating.

Economic news impacting EUR/CAD today

HCOB Eurozone Composite PMI (Wednesday)

Daily trading range

EUR/CAD today is fluctuating within a recent 1.6050–1.6250 range and holding near the lower end 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 3, 2026, the GBP/CAD pair is trading at 1.8679, representing a -0.04% move in the last 24 hours.

GBP/CAD highlights

Sterling holds steady on firmer data: The pound remains supported after a stronger UK manufacturing PMI, helping keep GBP/CAD stable in early trade.
Improving PMI caps GBP downside:Signs of resilience in UK factory activity are limiting weakness in CAD to GBP moves despite cautious broader sentiment.
Inflation data in focus for GBP direction:Attention now turns to upcoming eurozone flash HICP data, which could influence cross-market sentiment and near-term moves in GBP/CAD.

Economic news impacting GBP/CAD today

S&P S&P Global Services 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.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
On February 3, 2026, the CAD/JPY pair is trading at 114.219, representing a 0.49% move in the last 24 hours.

CAD/JPY highlights

Yen stays pressured by political uncertainty:The yen remains under strain as uncertainty surrounding the February 8 election dampens confidence, keeping CAD/JPY supported.
Fiscal concerns weigh on JPY sentiment:Ongoing worries over Japan’s fiscal outlook continue to cap upside in the currency, limiting demand across JPY/CAD crosses.
Policy and politics drive JPY direction:Until political clarity improves, near-term moves in CAD/JPY are likely to remain biased higher rather than signalling a sustained yen recovery.

Economic news impacting CAD/JPY today

Manufacturing & Services PMI

Daily trading range

CAD/JPY today is fluctuating within a recent 113.00–115.00 range and holding near the lower-middle of that band with a mildly defensive 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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