Is USD to CAD going up or down?

As of January 21, 2026, the exchange rate for USD to CAD is 1.38019, denoting a -0.22% 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 1.38019, giving a sense of how the loonie is positioned against the US dollar. Against the euro, EUR/CAD is hovering near 1.61915, while the British pound sits around 1.85198 on the GBP/CAD pair. For those watching the yen, the CAD/JPY rate is currently near 114.317, 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 1.38019. 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 -0.22% 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 21, 2026

Canadian Dollar News - CAD adds to gains on stable BoC outlook

The exchange rate for USD/CAD is trading with a softer tone mid-week as the US dollar rate today extends its slide, weighed by lingering EU–US tensions over Greenland and growing caution ahead of Donald Trump’s upcoming address at the World Economic Forum in Davos. With broader USD sentiment already fragile, markets are reluctant to rebuild long positions until clearer policy and geopolitical signals emerge. Meanwhile, the Canadian dollar rate today is adding to its weekly advance, benefiting from sustained US dollar weakness and rising confidence that the Bank of Canada will hold rates at its next meeting. While upcoming Canadian data is mid-tier in nature, expectations of policy stability are helping anchor the CAD to USD rate. Unless global risk sentiment shifts sharply, the exchange rate is likely to remain range-bound rather than break into a decisive trend.

Today's Global Currency Highlights

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

USD: The US dollar extends its slide mid-week as EU–US tensions over Greenland linger, eyes on on Trump’s upcoming address at the World Economic Forum in Davos.
CAD: Canadian dollar adds to its weekly advance amid sustained USD weakness, rising bets of a BoC rate hold next week underpin support ahead of mid-tier data.
EUR: Euro undergoes a corrective pullback as the “Sell America” trade pauses, attention turns to remarks from US President Trump and ECB President Lagarde.
GBP: Sterling surrenders its recent gains after UK CPI accelerates more than expected in December, geopolitics and shifting BoE expectations now key drivers.
JPY: Yen remains under pressure as bulls hold back amid fiscal concerns, anticipation of the BoJ policy decision and a risk-off tone help limit deeper losses.
AUD: Australian dollar regains ground after the Westpac Leading Economic Index rises 0.1% in December, with ongoing USD softness continuing to provide support.

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 Canada’s IPPI and RMPI releases and several US events topping the FX calendar. The Canadian data will be watched for signals on upstream price pressures, which could influence expectations around inflation trends and shape the outlook for the Canadian dollar today. In the US, markets will closely follow Donald Trump’s speech at the World Economic Forum in Davos alongside pending home sales data, both of which may drive near-term sentiment toward the US dollar today. With geopolitical and housing signals in play, traders are likely to remain cautious as they assess how these developments could affect broader market direction.

date	event	actual	consensus	previous

Latest events

Canadian Dollar Daily Outlook

The latest Canadian dollar news points to a steady-to-firm outlook, with the Canadian dollar rate today remaining supported by ongoing US dollar weakness and growing confidence that the Bank of Canada will hold rates at its upcoming meeting. While domestic data on producer and raw material prices may add some near-term volatility, expectations of policy stability continue to underpin the loonie. However, with global headlines and US political developments still in focus, the Canadian dollar is likely to trade in a narrow range rather than break into a decisive trend.

USD/CAD Daily Update

What’s the USD/CAD rate today?
On January 21, 2026, the USD/CAD pair is trading at 1.38019, representing a -0.22% move in the last 24 hours.

USD/CAD highlights

USD weakens as tariff threats revive trade concerns: The US dollar extends its decline after renewed tariff threats from Donald Trump deepen the EU–US trade rift and fuel a broader “Sell America” narrative.
ADP data in focus for USD direction: Markets are watching the ADP employment report for the next signal on US labour conditions, with any surprise likely to influence near-term USD positioning.
CAD extends rebound on steady inflation signals: The Canadian dollar builds on Monday’s recovery as mixed inflation data reinforces expectations of a Bank of Canada rate hold.
Crude prices add support to CAD: Firmer oil prices provide an additional tailwind for the loonie, helping sustain gains even as broader risk sentiment remains cautious.

Economic news impacting USD/CAD today

US ADP Employment Change Weekly

Daily trading range

USD/CAD pair fluctuating within a recent 1.3700–1.3950 range and holding near the lower end of that band with a mildly softer bias.

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EUR/CAD Daily Update

What’s the EUR/CAD rate today?
On January 21, 2026, the EUR/CAD pair is trading at 1.61915, representing a -0.17% move in the last 24 hours.

EUR/CAD highlights

Euro climbs on stronger sentiment data: The euro reclaims multi-week highs after improved economic sentiment points to greater resilience across the euro area.
Trade risks offer indirect support to EUR: Ongoing trade-related tensions and tariff threats continue to weigh on the US dollar, helping underpin demand for the euro.
Policy talks keep EUR supported: Plans for EU leaders to hold talks in response to tariff risks are reinforcing confidence, allowing the euro to hold its gains despite lingering uncertainty.

Economic news impacting EUR/CAD today

ECB President Lagarde's Speech (Wednesday)

Daily trading range

EUR/CAD today is fluctuating within a recent 1.6100–1.6350 range and holding near the middle of that band with a neutral bias.

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GBP/CAD Daily Update

What’s the GBP/CAD rate today?
On January 21, 2026, the GBP/CAD pair is trading at 1.85198, representing a -0.40% move in the last 24 hours.

GBP/CAD highlights

Sterling eases from intraday highs: The pound slips modestly after failing to sustain earlier gains, though broader price action remains contained.
Labour data keeps GBP supported: With the unemployment rate holding at 5.1%, the data has helped limit downside pressure and reinforced a relatively steady outlook for GBP/CAD.
CPI seen as next GBP catalyst: Attention now turns to the upcoming inflation report, which will be key in shaping expectations for BoE policy and near-term CAD to GBP rate.

Economic news impacting GBP/CAD today

Inflation Rate (Wednesday)

Daily trading range

GBP/CAD is fluctuating within a recent 1.8450–1.8750 range and holding near the middle of that band with a neutral bias.

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CAD/JPY Daily Update

What’s the CAD/JPY rate today?
On January 21, 2026, the CAD/JPY pair is trading at 114.317, representing a 0.04% move in the last 24 hours.

CAD/JPY highlights

Yen pressured by snap election concerns: The yen comes under renewed pressure after reports of a possible snap election raise concerns about fiscal policy uncertainty in Japan.
Fiscal worries weigh on JPY sentiment: Election-related risks are prompting caution among investors, limiting appetite for the yen despite modest intraday support.
Intervention risks cap deeper losses: Ongoing intervention sensitivity and underlying safe-haven demand continue to help contain downside moves, preventing a sharper JPY selloff.

Economic news impacting CAD/JPY today

Trade Balance (Wednesday)

Daily trading range

CAD/JPY today is fluctuating within a recent 113.00–115.50 range and holding near the middle of that band with a neutral 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.

Useful links

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