Is USD to CAD going up or down?

As of February 5, 2026, the exchange rate for USD to CAD is 1.36703, denoting a 0.07% 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 1.36703, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61331, while the British pound sits around 1.85212 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 114.733, 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 1.36703. 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 0.07% 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 5, 2026

Canadian Dollar News - Loonie slips as oil retreats and USD firms

USD/CAD performance is leaning modestly firmer, with the US dollar rate today holding onto its overnight gains amid a risk-off backdrop. However, upside remains capped as labour market concerns linger after a softer ADP print, keeping investors cautious ahead of upcoming jobless claims. This mix of defensive demand and employment uncertainty has left the exchange rate supported but not decisively trending. Meanwhile, the Canadian dollar rate today is extending its gradual slide amid a firmer USD tone, with lower oil prices weighing on demand for the loonie as markets await remarks from BoC Governor Macklem. Until energy markets stabilize or domestic signals improve, CAD to USD is likely to remain pressured, drifting rather than breaking into a clear directional move.

Today's Global Currency Highlights

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

USD: US dollar holds onto its overnight gains amid a risk-off backdrop, labour market concerns after a softer ADP print cap upside ahead of jobless claims.
CAD: Canadian dollar extends its gradual slide amid a firmer USD, with lower oil prices weighing on demand as markets await remarks from BoC Governor Macklem.
EUR: Euro remains mildly volatile near weekly highs as investors expect the ECB to keep rates unchanged, supported by steady growth and contained inflation.
GBP: Sterling tumbles after an expected BoE rate cut as a narrow 5–4 vote split signals a more dovish tilt, markets look for further guidance from officials.
JPY: Yen continues to weaken against majors amid mounting concerns over fiscal outlook, political uncertainty ahead of a snap election adds to the pressure.
AUD: Aussie dollar pulls back from weekly highs as the USD firms on hawkish Fed signals, though stronger-than-expected trade data helps limit deeper reversal.

CAD Daily Performance Against Global Currencies

Pair	Rates	Daily	Ranges

Today's Economic Calendar

In today’s daily FX spotlight, focus shifts to a packed economic calendar, with central bank signals and labour data dominating the FX calendar and shaping near-term market tone. In the US, initial jobless claims will be closely watched for fresh insight into labour market conditions, influencing sentiment around the US dollar today. In Canada, remarks from BoC Governor Macklem will be key for gauging the policy outlook and could drive volatility in the Canadian dollar today. Meanwhile, in Europe, the ECB interest rate decision and President Lagarde’s speech will set the direction for the euro, adding another layer of event risk as markets remain highly sensitive to policy guidance across major currencies.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news suggests a cautious near-term outlook, with the Canadian dollar rate today extending its gradual softness as a firmer US dollar and lower oil prices weigh on sentiment. With markets still in a risk-off mood and attention turning to remarks from BoC Governor Macklem, the loonie remains sensitive to shifts in policy expectations and energy market dynamics. Unless domestic signals improve or crude prices stabilize, the Canadian dollar is likely to remain range-bound with a slightly defensive bias rather than stage a clear recovery.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On February 5, 2026, the USD/CAD pair is trading at 1.36703, representing a 0.07% move in the last 24 hours.

USD/CAD highlights

USD holds gains in risk-off trade: The US dollar remains supported after overnight strength as cautious sentiment drives demand, keeping USD/CAD underpinned in early moves.
Jobless claims to shape USD follow-through: Labour market concerns after a softer ADP print are capping upside, with initial jobless claims now key for near-term direction and the CAD to USD rate.
CAD extends gradual slide on firmer USD: Canadian dollar continues to soften as the greenback stays firm, leaving USD/CAD tilted modestly higher.
Oil weakness and Macklem remarks in focus: Lower crude prices are weighing on loonie demand, while upcoming comments from Governor Macklem will be crucial for whether CAD to USD stabilizes or drifts further.

Economic news impacting USD/CAD today

US Initial Jobless Claims
Canada BoC Governor Macklem's Speech

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.

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 5, 2026, the EUR/CAD pair is trading at 1.61331, representing a 0.03% move in the last 24 hours.

EUR/CAD highlights

Euro holds near weekly highs: The euro remains mildly volatile but supported near recent peaks, keeping EUR/CAD firm in early trade.
ECB expectations underpin EUR tone: With investors largely expecting the ECB to keep rates unchanged, stability in policy outlook is limiting downside in CAD to EUR moves.
Steady growth supports EUR resilience: Contained inflation and stable economic momentum are helping the euro hold ground, leaving EUR/CAD biased slightly higher unless data disappoints.

Economic news impacting EUR/CAD today

ECB Interest Rate Decision
ECB President Lagarde's Speech

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 firm 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 5, 2026, the GBP/CAD pair is trading at 1.85212, representing a -0.64% move in the last 24 hours.

GBP/CAD highlights

Sterling slides after BoE cut: The pound tumbles following an expected rate cut, pushing GBP/CAD lower as markets react to a softer policy stance.
Dovish split amplifies GBP pressure: A narrow 5–4 vote signals an increasingly dovish tilt, weighing on sentiment and shifting near-term CAD to GBP dynamics.
Official guidance now key for GBP direction: Investors will look to follow-up commentary from BoE officials to assess whether GBP/CAD stabilises or extends losses.

Economic news impacting GBP/CAD today

CFTC GBP speculative net positions (Friday)

Daily trading range

GBP/CAD is fluctuating within a recent 1.8500–1.8750 range and holding near the lower end of that band with a modest bearish 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 5, 2026, the CAD/JPY pair is trading at 114.733, representing a -0.02% move in the last 24 hours.

CAD/JPY highlights

Yen remains on the back foot: The yen continues to weaken against major peers as concerns over Japan’s fiscal outlook undermine confidence, keeping CAD/JPY supported.
Political uncertainty adds pressure: Growing uncertainty ahead of a potential snap election is weighing further on sentiment, limiting demand across JPY/CAD moves.
Risk backdrop keeps JPY vulnerable: With fiscal and political risks dominating the narrative, near-term direction in CAD/JPY is likely to stay biased higher unless conditions stabilize.

Economic news impacting CAD/JPY today

Household Spending

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.

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