Is USD to CAD going up or down?

As of January 6, 2026, the exchange rate for USD to CAD is 1.38121, denoting a 0.33% 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 1.38121, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61396, while the British pound sits around 1.86451 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 113.422, 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 1.38121. 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 0.33% 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

January 6, 2026

Canadian Dollar News - CAD muted as lower crude offsets hawkish BoC

USD/CAD is trading with a softer tone as early-week momentum fades on both sides of the border. The US dollar rate today is struggling to sustain Monday’s advance after disappointing manufacturing PMI data dented confidence, leaving markets focused on upcoming services PMI readings for renewed direction as the trial of Venezuela’s President Maduro gets underway. This has kept the near-term CAD to USD rate finely balanced. Meanwhile, the Canadian dollar rate today is trading largely sideways, showing resilience despite broader USD softness, as lower crude oil prices offset support from a relatively hawkish Bank of Canada stance and an improving global risk mood. With services PMI data ahead, the exchange rate is likely to remain range-bound in the near term, driven more by incoming data and risk sentiment than a clear shift in domestic fundamentals.

Today's Global Currency Highlights

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

USD: US dollar fails to sustain Monday’s advance after manufacturing PMIs disappoint, eyes on services PMI for renewed momentum as Maduro’s trial gets underway.
CAD: Loonie trades sideways despite USD softness, as lower crude prices offset support from a hawkish BoC and a positive risk mood ahead of services PMI data.
EUR: Euro relinquishes overnight gains as markets hold bets ahead of German inflation data, seen as a key input for shaping the ECB’s policy path in 2026.
GBP: Sterling edges lower from multi-month highs but remains underpinned by semi-hawkish BoE expectations, as risk-on sentiment continues to offer support.
JPY: Yen’s rebound loses steam, struggles to attract buyers as safe-haven demand fades and uncertainty lingers over the timing of the next BoJ rate hike.
AUD: Australian dollar’s rally pauses, trades flat with a mild bullish bias as investor focus shifts to services activity data and the monthly CPI release.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX spotlight, attention turns to the economic calendar, with services activity data in focus on both sides of the border. Markets will be watching Canada’s Services PMI and the US S&P Global Services PMI for insight into momentum across the services sector, which could influence near-term sentiment toward the Canadian dollar today and the US dollar today. A stronger Canadian reading may help underpin the loonie, while an upside surprise in US data could lend support to the greenback, setting the tone for FX moves as traders assess relative growth signals.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news points to a cautious, data-dependent outlook, with the Canadian dollar rate today lacking clear momentum as markets await fresh signals from services-sector activity. With Canada’s Services PMI and the US S&P Global Services PMI in focus, the loonie is being guided by relative growth trends rather than domestic catalysts alone. While stable Bank of Canada expectations continue to offer underlying support, uncertainty around global demand and USD direction is likely to keep the Canadian dollar trading near recent levels rather than breaking into a sustained trend.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On January 6, 2026, the USD/CAD pair is trading at 1.38121, representing a 0.33% move in the last 24 hours.

USD/CAD highlights

USD loses momentum after PMI setback: The US dollar fails to hold onto Monday’s gains after weaker-than-expected manufacturing PMI data dampens sentiment.
Services PMI key for USD direction: Attention now shifts to upcoming services PMI data for signs of renewed momentum, with broader focus also on developments around Maduro’s trial adding a geopolitical layer.
CAD trades sideways despite softer USD: The loonie remains range-bound even as the US dollar softens, reflecting a balance of opposing forces in the market.
Oil weakness offsets BoC support for CAD: Lower crude prices are counteracting support from a relatively hawkish Bank of Canada stance and a positive risk mood, keeping CAD movement contained ahead of services PMI releases.

Economic news impacting USD/CAD today

US S&P Global Services PMI
Canada Services PMI

Daily trading range

USD/CAD today is fluctuating within a recent 1.3700–1.3850 range and holding near the upper end of that band with a modest upward bias.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
On January 6, 2026, the EUR/CAD pair is trading at 1.61396, representing a 0.02% move in the last 24 hours.

EUR/CAD highlights

Euro gives up overnight gains: The euro relinquishes earlier advances as markets turn cautious ahead of key German inflation data, prompting consolidation in EUR/CAD.
German inflation in focus for ECB outlook: The upcoming CPI release is seen as a crucial input for shaping the ECB’s policy path in 2026, with the outcome likely to influence CAD to EUR rate.
Range-bound bias ahead of data: With investors reluctant to take large positions before inflation clarity, the euro is likely to trade sideways in the near term, leaving EUR/CAD sensitive to the data outcome.

Economic news impacting EUR/CAD today

Construction PMI (Wednesday)
Inflation Rate (Wednesday)

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 neutral bias.

Save more on the EUR/CAD exchange rate.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
On January 6, 2026, the GBP/CAD pair is trading at 1.86451, representing a 0.02% move in the last 24 hours.

GBP/CAD highlights

Sterling eases from multi-month highs: The pound edges lower after recent gains, prompting mild consolidation in GBP/CAD as traders lock in profits.
BoE stance continues to support GBP: Semi-hawkish expectations around the Bank of England’s policy outlook are helping underpin sterling, keeping CAD to GBP rate relatively stable despite the pullback.
Risk-on mood limits downside: Ongoing risk-on sentiment is cushioning losses for the pound, leaving GBP/CAD biased toward range-bound trade rather than a deeper correction.

Economic news impacting GBP/CAD today

Construction PMI

Daily trading range

GBP/CAD is fluctuating within a recent 1.8500–1.8750 range and holding near the upper end of that band with a modest upward bias.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
On January 6, 2026, the CAD/JPY pair is trading at 113.422, representing a -0.15% move in the last 24 hours.

CAD/JPY highlights

Yen rebound fades amid weaker safe-haven demand: The yen’s recent recovery loses momentum as fading safe-haven demand limits buying interest, keeping CAD/JPY supported.
BoJ rate timing uncertainty weighs on JPY: Ongoing uncertainty around the timing of the next Bank of Japan rate hike continues to undermine the yen, leaving CAD to JPY rate tilted higher.
JPY remains fragile near term: With policy clarity still lacking and risk appetite improving, the yen is likely to stay under pressure, leaving CAD/JPY sensitive to shifts in global sentiment.

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 end of that band with a modest upward 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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