Is USD to CAD going up or down?

As of January 5, 2026, the exchange rate for USD to CAD is 1.38123, denoting a 0.62% 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 1.38123, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61115, while the British pound sits around 1.85512 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 113.6, 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 1.38123. 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 0.62% 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 5, 2026

Canadian Dollar News - Loonie edges lower despite crude price gains

The USD/CAD exchange rate is opening the first full trading week of 2026 with a firmer bias as shifting geopolitical and macro drivers guide early positioning. The US dollar rate today is strengthening following US intervention in Venezuela, with markets now turning their focus to upcoming ISM manufacturing PMI data for confirmation of underlying economic momentum. This renewed USD bid has tilted near-term CAD to USD sentiment in favour of the greenback. Meanwhile, the Canadian dollar rate today is drifting modestly lower amid a stronger US dollar. However, downside pressure remains contained as rising crude oil prices, fuelled by developments in Venezuela and the capture of President Maduro, continue to offer support to the loonie. With energy markets providing a buffer, the exchange rate is likely to remain sensitive to US data and geopolitical headlines.

Today's Global Currency Highlights

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

USD: US dollar opens the first full trading week of 2026 on a firmer footing following US intervention in Venezuela, markets turn attention to ISM manufacturing PMIs.
CAD: Canadian dollar drifts lower as the USD strengthens, rising crude oil prices after the capture of Venezuelan President Maduro help the loonie limit losses.
EUR: Euro starts the week on a softer note, slides to four-week lows amid a USD rebound as investors await key US data for clues on the Fed’s easing timeline.
GBP: Sterling climbs to two-month highs as the BoE’s cautious stance on monetary easing continues to underpin sentiment, retail sales data eyed for guidance.
JPY: Yen posts a modest recovery, nears two-week highs against major peers on BoJ–Fed divergence, but lingering uncertainty over the pace of tightening caps gains.
AUD: Australian dollar trades mixed as a US strike on Venezuela fuels a risk-off mood, with domestic inflation data later this week expected to set the tone.

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 the ISM Manufacturing PMI in focus as a key driver of market direction. Investors will be watching the data closely for signals on US growth momentum, which could shape expectations around policy and influence sentiment toward the US dollar today. With no major domestic releases scheduled, moves in the Canadian dollar today are likely to be driven by USD dynamics and broader risk appetite, leaving the loonie sensitive to any surprise in the PMI reading that could shift near-term FX positioning.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news points to a cautious and externally driven outlook, with the Canadian dollar rate today showing limited follow-through as markets await clearer signals from the US. With ISM Manufacturing PMI in focus, the loonie remains sensitive to shifts in US growth expectations and broader risk sentiment rather than domestic fundamentals. While support from oil prices and steady Bank of Canada expectations helps limit downside risk, uncertainty around the US outlook is likely to keep the Canadian dollar trading near recent levels rather than establishing a decisive trend.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On January 5, 2026, the USD/CAD pair is trading at 1.38123, representing a 0.62% move in the last 24 hours.

USD/CAD highlights

USD firms on geopolitical developments: The US dollar opens the first full trading week of 2026 on a stronger footing after US intervention in Venezuela boosts demand for the greenback.
ISM PMI next test for USD: With initial gains in place, markets are now turning to the ISM Manufacturing PMI for confirmation of underlying US growth momentum and further direction.
CAD drifts lower on stronger USD: The Canadian dollar edges lower as renewed USD strength weighs on sentiment, limiting near-term upside.
Oil prices help cushion CAD losses: Rising crude prices following the capture of Venezuelan President Maduro are helping offset USD pressure, preventing deeper losses for the loonie.

Economic news impacting USD/CAD today

US ISM Manufacturing 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 5, 2026, the EUR/CAD pair is trading at 1.61115, representing a 0.15% move in the last 24 hours.

EUR/CAD highlights

Euro slides on USD rebound: The euro starts the week on a softer footing, slipping to four-week lows as a renewed US dollar rebound weighs on sentiment, pushing EUR/CAD lower.
US data in focus for EUR direction: Investors are awaiting key US economic releases for clues on the Fed’s easing timeline, with stronger data likely to keep pressure on the euro and influence CAD to EUR rate.
Downside bias persists near term: With USD momentum dominating near-term price action, the euro remains vulnerable, leaving EUR/CAD sensitive to shifts in US data and broader risk appetite.

Economic news impacting EUR/CAD today

CFTC EUR speculative net positions

Daily trading range

EUR/CAD today is fluctuating within a recent 1.6000–1.6200 range and holding near the lower end of that band with a modest downward bias.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
On January 5, 2026, the GBP/CAD pair is trading at 1.85512, representing a 0.41% move in the last 24 hours.

GBP/CAD highlights

Sterling hits two-month highs: The pound climbs to fresh two-month highs as the Bank of England’s cautious approach to monetary easing continues to underpin sentiment, keeping GBP/CAD well supported.
BoE stance supports GBP demand: Expectations that the BoE will move slowly on rate cuts are reinforcing confidence in sterling, helping stabilize CAD to GBP rate despite broader market uncertainty.
Retail sales eyed for next move: UK retail sales data is now in focus as the next potential catalyst, with the outcome likely to determine whether GBP/CAD can extend gains or consolidate near recent highs.

Economic news impacting GBP/CAD today

BRC Retail Sales Monitor

Daily trading range

GBP/CAD is fluctuating within a recent 1.8450–1.8650 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 5, 2026, the CAD/JPY pair is trading at 113.6, representing a -0.56% move in the last 24 hours.

CAD/JPY highlights

Yen recovers on BoJ–Fed divergence: The yen posts a modest recovery, edging toward two-week highs against major peers as policy divergence between the BoJ and the Fed lends support, weighing slightly on CAD/JPY.
Policy uncertainty caps JPY gains: PersiDespite the rebound, lingering uncertainty over the pace and scale of future BoJ tightening is limiting follow-through, keeping CAD to JPY moves relatively contained.
Range-bound bias for JPY: With supportive policy signals offset by cautious expectations, the yen is likely to trade within recent ranges, leaving CAD/JPY sensitive to shifts in global yields and risk sentiment.

Economic news impacting CAD/JPY today

10-Year JGB Auction

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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