The Canadian dollar enters November with a mixed outlook. Stronger consumer spending and elevated oil prices have given the loonie some support, but the recovery still faces a few hurdles. Weak employment, Canada–US trade uncertainty and the interest rate gap with the US remain the main concerns.
The October Bank of Canada and Federal Reserve decisions are now behind us, shifting attention to December. The monthly CAD to USD exchange rate will face several tests before then, including the US midterm elections, Canada's federal budget and important employment and inflation releases. We expect these developments to determine whether CAD can extend its recovery or loses momentum heading into year-end.
Swipe to view all months
November brings several important tests for the Canadian dollar, but interest rate expectations remain central to the outlook. Canada's federal budget and upcoming employment, inflation and GDP figures will show whether the economy is gaining momentum. US trade policy is another concern, particularly if fresh uncertainty begins to affect Canadian business confidence and investment.
The Bank of Canada's October 28 rate hike to 2.50% offers some support for CAD, but US rates remain considerably higher at 3.75%–4.00%. That leaves the interest rate gap favouring the US dollar. Stronger Canadian data could change expectations for further BoC tightening, although a sustained narrowing of the gap would provide a more convincing case for CAD gains.
For CAD, the bigger issue surrounding the November 3 US midterms is what the election means for future trade policy. Renewed tariff threats would be unwelcome for Canadian exporters and could put the loonie under pressure. A more stable trade environment, on the other hand, would remove some uncertainty around cross-border investment and could help CAD recover.
Canada's November 5 federal budget will put the government's growth and investment plans under scrutiny. Measures aimed at infrastructure, productivity and business investment could improve confidence in the Canadian economy. But more spending does not automatically translate into a stronger currency. The market will also be watching the deficit outlook and whether the proposed measures can deliver lasting economic benefits.
Canada's November 6 employment report is an important test for the loonie. Stronger hiring and wage growth would help counter concerns about the labour market and keep expectations of further Bank of Canada tightening alive. Another weak reading, particularly one accompanied by rising unemployment, would make it harder for CAD to sustain its recent recovery.
Canada's November 16 inflation report will be closely watched ahead of December's Bank of Canada decision. Persistent price pressures could strengthen the case for another rate increase, lending some support to CAD. Softer inflation would ease that pressure. The US inflation picture matters just as much, given its influence on Federal Reserve expectations and the direction of USD/CAD.
The November 30 GDP release will offer a clearer assessment of how Canada's economy performed in the third quarter. A stronger reading would help reassure markets that domestic activity is holding up and could reinforce expectations of a firmer Bank of Canada policy stance. Disappointing growth, however, would add to concerns about the economy heading into December and leave CAD vulnerable.
Recent movements across major CAD currency pairs offer useful clues about where the loonie stands heading into November 2026. Their monthly highs, lows, trading ranges and directional trends provide context for assessing whether recent currency gains or losses have room to continue.
USD/CAD has recorded a three-month change of -0.64% and a year-to-date movement of +1.70%. That leaves a mixed picture for the Canadian dollar, despite its more recent recovery.
The US exchange rate forecast against the Canadian dollar remains influenced by Federal Reserve policy, US inflation, employment trends and Canadian economic data. The nearest available forecast projects 1.4087 for Nov 2026.
The USD/CAD exchange rate currently stands at 1.3955, with an expected trading range of 1.3810 to 1.4137 this month. The latest forecast projects 1.3904 for Jan 2027.
The CAD to USD forecast for December 2026 projects 1 CAD = 0.7042 USD. In the opposite direction, the USD to CAD forecast stands at 1 USD = 1.4200 CAD, compared with 1.4087 CAD in November 2026.
These projections suggest modest Canadian dollar weakness heading into year-end, as a higher USD/CAD exchange rate indicates a weaker Canadian dollar. However, the outlook remains sensitive to upcoming economic data and Bank of Canada and Federal Reserve interest rate expectations.
The Canadian dollar has recovered some ground, but extending those gains may prove more difficult. Softer US inflation, improving Canadian employment and a narrowing interest rate gap would strengthen the case for a lowerUSD/CAD rate.
The main risk is that Canada's economic recovery fails to gather pace while US data remains resilient. Add renewed trade uncertainty to that picture, and USD/CAD could reverse some of its recent decline.
November's employment and inflation reports will be particularly important for USD/CAD as markets look ahead to December's central bank decisions. Canadian growth figures and developments in US trade and fiscal policy could also shift expectations. The question is whether incoming data strengthens the case for further Canadian dollar gains or gives the US dollar room to recover.
USD Events
CAD Events
The USD/CAD monthly average exchange rate reflects the average of daily exchange rates recorded during a calendar month. Unlike a single month-end reading, it captures currency movements throughout the period and gives a broader picture of how USD/CAD has performed.
USD/CAD currently stands at 1.3955, with a monthly change of -2.06%%. Its three-month change is -0.64%%, while its year-to-date movement is +1.70%%.
The recent decline suggests the Canadian dollar has regained some ground, but the year-to-date picture is less favourable. To assess CAD monthly performance, it is worth comparing November's month-to-date movement with the trailing 30-day, three-month and year-to-date changes rather than relying on a single period.
The CAD to USD month-over-month change can be calculated by comparing October 2026's closing exchange rate with November 2026's month-end rate once it becomes available.
October 2026 performance provides a useful benchmark for November 2026. The previous month's trading highs and lows show how far the pair has moved, while November 2026's exchange rate activity will help establish whether the Canadian dollar is extending its recovery or giving back some of those gains.
The highest and lowest CAD to USD mid-market exchange rates recorded during October 2026 provide the following reference points, alongside their inverse USD/CAD values:
- Highest rate: 1 CAD = 0.7169 USD. At this peak, it cost 1.3949 CAD to buy 1 USD.
- Lowest rate: 1 CAD = 0.7144 USD. At this lowest point, the inverse rate reached 1.3997 CAD per USD.
For November 2026, the observed USD/CAD range is 1.3949 to 1.3997. The corresponding USD/CAD range is 0.7144 to 0.7169. These are current-month observations, separate from the previous-month highs and lows above.
At the latest available rate, 1 USD equals 1.3955 CAD, with USD/CAD recording a year-to-date movement of +1.70%.
The year-to-date movement provides a different perspective from the pair's recent decline. Historical monthly closing rates help show how USD/CAD reached its current level, including periods of currency strength, weakness and changes in its average exchange rate.
Review USD/CAD historical monthly closing rates to understand how the exchange rate has moved over time. The table shows month-by-month rate changes, while the chart provides a broader view of longer-term currency movements, including one-month, three-month and year-to-date performance.
USD/CAD Monthly Closing Trend - YTD
EUR/CAD has recorded a three-month change of -3.46% and a year-to-date movement of -3.11%. The euro's performance against the Canadian dollar remains closely tied to differences between European Central Bank and Bank of Canada policy, economic growth and energy prices.
For November, the question is whether Canada's improving interest rate outlook can provide enough support to offset pressure from domestic economic weakness. European inflation and the ECB's policy stance will also matter. The nearest available forecast places EUR/CAD at 1.5820 for Nov 2026.
EUR/CAD currently stands at 1.5604, within an expected monthly trading range of 1.5435 to 1.5811. The latest forecast projects 1.6067 for Jan 2027.
The euro could maintain an advantage if ECB policy expectations remain relatively firm while Canadian growth disappoints. However, stronger Canadian employment and economic activity would make further EUR/CAD gains harder to sustain. A lower EUR/CAD rate means a stronger Canadian dollar against the euro.
EUR/CAD will be influenced by differences in European and Canadian economic performance. Stronger eurozone inflation or restrictive ECB guidance could support the euro, while improving Canadian employment, stronger domestic growth and elevated oil prices may favour CAD.
Eurozone inflation and third-quarter GDP reports will provide important signals about the European economy. Canadian employment, inflation and GDP releases could also influence EUR/CAD by changing expectations for the Bank of Canada's December decision.
EUR Events
CAD Events
Review EUR/CAD exchange rate movements across different periods to understand how the euro has performed against the Canadian dollar. The Canadian dollar to euro exchange rate (CAD/EUR) shows how many euros one Canadian dollar buys. Compare November's trading range with October's performance and longer-term historical trends to assess changes in both currencies.
EUR/CAD currently trades at 1.5604. Its three-month movement stands at -3.46%, while the year-to-date change is -3.11%.
Recent exchange rate movements should be assessed alongside the broader trend. An improving Canadian dollar against the euro would be reflected in a lower EUR/CAD rate, although short-term movements may not indicate a lasting change in direction.
October 2026 EUR/CAD performance provides a benchmark for assessing exchange rate movements in November 2026. Comparing the previous month's trading activity with November 2026's highs and lows helps identify whether the euro has maintained its recent momentum or the Canadian dollar has strengthened.
- Highest rate: 1 CAD = 0.6415 EUR. At this peak, it cost 1.5589 CAD to buy 1 EUR.
- Lowest rate: 1 CAD = 0.6388 EUR. At this lowest point, the inverse rate reached 1.5654 CAD per EUR.
At the latest available rate, 1 EUR equals 1.5604 CAD, with EUR/CAD recording a year-to-date movement of -3.11%.
Historical monthly closing rates provide a broader view of the pair's performance throughout 2026, including its average exchange rate, highest and lowest closing values, and overall direction.
Review EUR/CAD historical monthly closing rates to understand how the exchange rate has moved over time. The table shows month-by-month rate changes, while the chart provides a broader view of longer-term currency movements, including one-month, three-month and year-to-date performance.
EUR/CAD Monthly Closing Trend - YTD
GBP/CAD has recorded a three-month movement of -0.79% and a year-to-date change of +1.38%. Sterling's direction against the Canadian dollar will depend largely on the Bank of England's interest rate outlook, UK inflation and Canada's economic performance.
For now, UK monetary policy expectations deserve particular attention. Persistent inflation could keep the Bank of England cautious about easing, but a weakening British economy would make sustained sterling gains more difficult. The nearest available forecast projects GBP/CAD at 1.8870 for Nov 2026.
GBP/CAD currently stands at 1.8715, with an expected monthly trading range of 1.8514 to 1.8944. The latest forecast points to 1.8522 for Jan 2027.
The pound's ability to maintain its position against CAD will depend on whether UK economic data supports current interest rate expectations. Stronger Canadian growth could pull GBP/CAD lower, while disappointing domestic data would leave the loonie exposed to further sterling gains.
GBP/CAD will be sensitive to changes in UK interest rate expectations, inflation and Canadian economic performance. A more restrictive Bank of England outlook could strengthen sterling, while weaker UK growth or improving Canadian economic conditions may support CAD.
The Bank of England's monetary policy decision and the UK's inflation, employment and GDP reports will be the main domestic drivers of GBP/CAD. Canadian inflation and economic growth data may also influence the pair by shifting expectations for December's Bank of Canada decision.
GBP Events
CAD Events
Review how GBP/CAD has performed over different periods, including its recent trading range and historical monthly closing rates. Changes in UK monetary policy and Canadian economic conditions can influence the longer-term direction of the currency pair.
The current GBP/CAD exchange rate is 1.8715. The pair has changed by -0.79% over three months and +1.38% year to date.
Short-term sterling movements should be viewed against this broader performance. A higher GBP/CAD rate means the pound buys more Canadian dollars, while a lower rate indicates Canadian dollar strength.
October's GBP/CAD exchange rate performance provides a reference point for November's trading activity. Comparing the previous month's trend with November's actual trading range helps show whether sterling has extended its recent movements or the Canadian dollar has recovered.
The highest and lowest CAD to GBP mid-market exchange rates recorded during October 2026 should be displayed below, alongside their inverse GBP/CAD values.
- Highest rate: 1 CAD = 0.5347 GBP. At this peak, it cost 1.8701 CAD to buy 1 GBP.
- Lowest rate: 1 CAD = 0.5331 GBP. At this lowest point, the inverse rate reached 1.8757 CAD per GBP.
At the latest available rate, 1 GBP equals 1.8715 CAD, with GBP/CAD recording a year-to-date movement of +1.38%.
Historical monthly closing rates provide a broader view of sterling's performance against the Canadian dollar throughout 2026, including its average rate, highest and lowest monthly closing values, and overall direction.
Review GBP/CAD historical monthly closing rates to understand how the exchange rate has moved over time. The table shows month-by-month rate changes, while the chart provides a broader view of longer-term currency movements, including one-month, three-month and year-to-date performance.
GBP/CAD Monthly Closing Trend - YTD
CAD/JPY has recorded a three-month change of +1.40% and a year-to-date movement of -0.81%. The Canadian dollar's performance against the yen remains closely linked to interest rate differences, Bank of Japan policy and global investor sentiment.
The yen can react sharply when markets reassess Japanese interest rates or become more cautious about risk. That makes CAD/JPY particularly sensitive to changes in central bank expectations. The nearest available forecast projects 111.66 for Nov 2026.
The CAD/JPY exchange rate currently stands at 113.40, with an expected trading range of 111.67 to 114.64 this month. The latest available forecast projects 111.57 for Jan 2027.
Changes in Japanese interest rate expectations, economic growth and global market sentiment could influence the pair's direction throughout November.
CAD/JPY will be influenced by Japanese monetary policy, Canadian economic data and global investor sentiment. Stronger Canadian growth and elevated oil prices could push CAD/JPY higher, while tighter Bank of Japan policy or increased safe-haven demand may strengthen the yen.
Japanese inflation and GDP reports will help shape expectations for the Bank of Japan's December policy meeting. Canadian employment, CPI and economic growth figures could also influence CAD/JPY, particularly if they change expectations for Canadian interest rates.
CAD Events
JPY Events
Review CAD/JPY exchange rate movements across different periods to understand how the Canadian dollar has performed against the Japanese yen. Historical trends can provide context for November's trading activity and the pair's longer-term direction.
CAD/JPY currently trades at 113.40, with a three-month movement of +1.40% and a year-to-date change of -0.81%.
The pair's recent performance should be assessed alongside Japanese monetary policy developments and broader market sentiment. Unlike EUR/CAD or GBP/CAD, an increase in CAD/JPY indicates a stronger Canadian dollar against the yen.
October's CAD/JPY exchange rate performance provides a benchmark for evaluating November's movements. Comparing the previous month's trend with November's trading range helps identify whether the Canadian dollar has maintained its recent direction against the yen or reversed course.
The highest and lowest CAD to JPY mid-market exchange rates recorded during October 2026 should be displayed below, alongside their inverse CAD/JPY values.
- Highest rate: 1 JPY = 0.0089 CAD. At this peak, it cost 112.75 JPY to buy 1 CAD.
- Lowest rate: 1 JPY = 0.0088 CAD. At this lowest point, the inverse rate reached 113.51 JPY per CAD.
At the latest available rate, 1 CAD equals 113.40 JPY, with CAD/JPY recording a year-to-date movement of -0.81%.
Historical monthly closing rates provide a broader view of the pair's performance throughout 2026, including its average exchange rate, highest and lowest monthly closing values, and overall direction.
Review CAD/JPY historical monthly closing rates to understand how the exchange rate has moved over time. The table shows month-by-month rate changes, while the chart provides a broader view of longer-term currency movements, including one-month, three-month and year-to-date performance.
JPY/CAD Monthly Closing Trend - YTD
CAD/CHF has recorded a three-month change of +1.78% and a year-to-date movement of +1.54%. The pair remains influenced by Swiss National Bank policy, Canadian interest rate expectations and changes in demand for safe-haven currencies.
The Swiss franc tends to attract demand when financial markets become unsettled. For CAD, that creates a challenge: stronger domestic data may offer support, but gains can be difficult to maintain if investors become more defensive. The nearest available forecast projects 0.5839 for Nov 2026.
The CAD/CHF exchange rate currently stands at 0.5871, with an expected November trading range of 0.5779 to 0.5935. The latest available forecast projects 0.5800 for Jan 2027.
Market volatility, Swiss inflation and changes in expectations for the Swiss National Bank's December decision could influence the pair's direction.
CAD/CHF will be sensitive to changes in global investor sentiment, Swiss monetary policy and Canadian economic growth. Stronger Canadian data and rising commodity prices could support CAD, while increased market uncertainty may favour CHF as investors seek safer assets.
Swiss inflation and economic growth figures will offer insights into Switzerland's monetary policy outlook. Canadian employment, inflation and GDP releases could also influence CAD/CHF by changing expectations for the Bank of Canada's December decision.
CAD Events
CHF Events
Review CAD/CHF exchange rate movements across different periods to understand how the Canadian dollar has performed against the Swiss franc. Compare November's movements with historical trading ranges and monthly closing rates to assess longer-term trends.
CAD/CHF currently stands at 0.5871. The pair has recorded a three-month movement of +1.78% and a year-to-date change of +1.54%.
Recent performance should be considered alongside shifts in global risk sentiment. A stronger Swiss franc can push CAD/CHF lower, even when Canada's economic fundamentals remain relatively stable.
The month-to-date change for CAD/CHF is +1.02%.
October's CAD/CHF exchange rate performance provides a reference point for November's trading activity. Comparing the previous month's trend with current movements helps determine whether CAD has strengthened against the Swiss franc or whether safe-haven demand has influenced the pair.
The highest and lowest CAD to CHF mid-market exchange rates recorded during October 2026 should be displayed below, alongside their inverse CAD/CHF values.
- Highest rate: 1 CHF = 1.7131 CAD. At this peak, it cost 0.5837 CHF to buy 1 CAD.
- Lowest rate: 1 CHF = 1.6958 CAD. At this lowest point, the inverse rate reached 0.5897 CHF per CAD.
At the latest available rate, 1 CAD equals 0.5871 CHF, with CAD/CHF recording a year-to-date movement of +1.54%.
Historical monthly closing rates provide a broader perspective on the pair's performance throughout 2026, including its average exchange rate, highest and lowest monthly closing values, and overall direction.
Review CAD/CHF historical monthly closing rates to understand how the exchange rate has moved over time. The table shows month-by-month rate changes, while the chart provides a broader view of longer-term currency movements, including one-month, three-month and year-to-date performance.
CHF/CAD Monthly Closing Trend - YTD
CAD/CNY has recorded a three-month change of -0.97% and a year-to-date movement of -6.44%. The Canadian dollar's performance against the Chinese yuan remains influenced by China's economic growth, commodity demand and monetary policy developments in both countries.
The relationship is not entirely straightforward. Stronger Chinese economic activity can improve demand for Canadian commodities, but it can also strengthen the yuan itself. That makes the relative performance of CAD and CNY particularly important. The nearest available forecast projects 4.7055 for Nov 2026.
CAD/CNY currently stands at 4.7666, within an expected monthly trading range of 4.6924 to 4.8318. The latest forecast projects 4.8470 for Jan 2027.
A stronger Canadian economy could help CAD maintain its position against CNY, although improving Chinese activity may provide support for the yuan as well. The balance between commodity demand, relative interest rates and Chinese economic policy will be important in determining the direction.
A higher CAD/CNY rate means one Canadian dollar buys more Chinese yuan.
CAD/CNY will be influenced by China's economic outlook, the People's Bank of China's policy and Canadian commodity prices. Stronger Canadian economic performance or a weaker yuan could lift CAD/CNY, while improved demand for CNY or disappointing Canadian data may push the pair lower.
Chinese inflation, industrial production and retail sales reports will provide important information about domestic demand and economic recovery. People's Bank of China monetary policy developments could also influence CNY, while Canadian economic releases may affect the Canadian dollar's performance.
CAD Events
CNY Events
Review CAD/CNY exchange rate movements across different periods to understand how the Canadian dollar has performed against the Chinese yuan. Compare November's trading activity with historical monthly rates and longer-term trends to assess the pair's direction.
CAD/CNY currently stands at 4.7666, with a three-month change of -0.97% and a year-to-date movement of -6.44%.
Recent exchange rate movements reflect developments in both economies. An improvement in Chinese economic conditions does not necessarily translate into a higher CAD/CNY rate, particularly if CNY strengthens more than CAD.
The month-to-date movement for CAD/CNY is +1.18%.
October's CAD/CNY exchange rate performance provides a benchmark for assessing November's movements. Comparing the previous month's trend with the current trading range helps identify whether CAD has gained ground against CNY or whether China's policy developments have influenced the pair.
The highest and lowest CAD to CNY mid-market exchange rates recorded during October 2026 should be displayed below, alongside their inverse CAD/CNY values.
- Highest rate: 1 CNY = 0.2110 CAD. At this peak, it cost 4.7398 CNY to buy 1 CAD.
- Lowest rate: 1 CNY = 0.2090 CAD. At this lowest point, the inverse rate reached 4.7840 CNY per CAD.
At the latest available rate, 1 CAD equals 4.7666 CNY, with CAD/CNY recording a year-to-date movement of -6.44%.
Historical monthly closing rates provide a broader view of the pair's performance throughout 2026, including its average exchange rate, highest and lowest monthly closing values, and overall direction.
Review CAD/CNY historical monthly closing rates to understand how the exchange rate has moved over time. The table shows month-by-month rate changes, while the chart provides a broader view of longer-term currency movements, including one-month, three-month and year-to-date performance.
CNY/CAD Monthly Closing Trend - YTD
Compare how much CAD your USD could buy at today’s indicative rate and across this month’s projected USD/CAD range.
Today’s mid-market rate rate: 1 USD = 1.3955 CAD
A higher USD/CAD rate gives you more CAD for the same USD amount.
Register to convert your USD, or set a rate alert and we’ll notify you when your preferred rate is reached.
Estimates are for planning purposes only. Actual MTFX rates and converted amounts may vary. Projected monthly rates are not guaranteed.
Monthly events selected by the CMS economic filter
| Date | Time (ET) | Event | Impact |
|---|---|---|---|
| Nov 3 | 3:00 PM |  Factory Orders MoM (Sep) | Medium |
| Nov 3 | 3:00 PM | JOLTs Job Openings (Sep) | High |
| Nov 4 | 1:15 PM | ADP Employment Change (Oct) | High |
| Nov 4 | 1:30 PM | Balance of Trade (Sep) | Medium |
| Nov 4 | 1:30 PM | Imports (Sep) | Medium |
| Nov 4 | 1:30 PM |  Balance of Trade (Oct) | Medium |
| Nov 4 | 3:00 PM | ISM Services PMI (Oct) | High |
| Nov 5 | 1:30 PM | Nonfarm Productivity QoQ (Q3) | Medium |
| Nov 5 | 1:30 PM | Initial Jobless Claims (Oct/31) | High |
| Nov 5 | 1:30 PM | Continuing Jobless Claims (Oct/24) | High |
| Nov 5 | 1:30 PM | Jobless Claims 4-Week Average (Oct/31) | High |
| Nov 5 | 1:50 PM | Fed Hammack Speech | Medium |
| Nov 5 | 2:10 PM | Fed Barkin Speech | Medium |
| Nov 6 | 12:00 AM | Fed Logan Speech | Medium |
| Nov 6 | 9:30 AM | Fed Williams Speech | Medium |
| Nov 6 | 1:30 PM | Full Time Employment Chg (Oct) | Medium |
| Nov 6 | 1:30 PM | Employment Change (Oct) | High |
| Nov 6 | 1:30 PM | Part Time Employment Chg (Oct) | Medium |
| Nov 6 | 1:30 PM | Unemployment Rate (Oct) | High |
| Nov 6 | 1:30 PM | U-6 Unemployment Rate (Oct) | High |
| Nov 6 | 1:30 PM | Average Hourly Earnings MoM (Oct) | Medium |
| Nov 6 | 1:30 PM | Participation Rate (Oct) | Medium |
| Nov 6 | 1:30 PM | Non Farm Payrolls (Oct) | High |
| Nov 6 | 1:30 PM | Average Hourly Earnings YoY (Oct) | Medium |
| Nov 6 | 1:30 PM | Nonfarm Payrolls Private (Oct) | High |
| Nov 6 | 2:10 PM | Fed Musalem Speech | Medium |
| Nov 6 | 3:00 PM | Ivey PMI (Oct) | High |
| Nov 6 | 3:00 PM | Michigan Consumer Sentiment (Nov) | High |
| Nov 6 | 5:15 PM | Fed Bowman Speech | Medium |
| Nov 9 | 3:00 PM | Fed Goolsbee Speech | Medium |
| Nov 10 | 1:30 PM | CPI s.a (Oct) | Medium |
| Nov 10 | 1:30 PM | Inflation Rate MoM (Oct) | High |
| Nov 10 | 1:30 PM | Core Inflation Rate YoY (Oct) | High |
| Nov 10 | 1:30 PM | Core Inflation Rate MoM (Oct) | High |
| Nov 10 | 1:30 PM | Inflation Rate (Oct) | Medium |
| Nov 10 | 1:30 PM | Inflation Rate YoY (Oct) | High |
| Nov 10 | 4:00 PM | WASDE Report | Medium |
| Nov 11 | 10:00 AM | OPEC Monthly Report | Medium |
| Nov 11 | 7:00 PM | Budget Balance (Oct) | Medium |
| Nov 12 | 1:30 PM | Initial Jobless Claims (Nov/07) | High |
| Nov 12 | 1:30 PM | Continuing Jobless Claims (Oct/31) | High |
| Nov 12 | 1:30 PM | Jobless Claims 4-Week Average (Nov/07) | High |
| Nov 13 | 1:30 PM | Core PPI MoM (Oct) | Medium |
| Nov 16 | 1:30 PM | Common CPI YoY (Oct) | High |
| Nov 16 | 1:30 PM | Core Inflation Rate YoY (Oct) | Medium |
| Nov 16 | 1:30 PM | Median CPI YoY (Oct) | High |
| Nov 16 | 1:30 PM | Trimmed CPI YoY (Oct) | High |
| Nov 16 | 1:30 PM | Inflation Rate MoM (Oct) | Medium |
| Nov 16 | 1:30 PM | Inflation Rate YoY (Oct) | High |
| Nov 17 | 1:15 PM | Housing Starts (Oct) | Medium |
| Nov 17 | 1:30 PM | Retail Sales MoM (Oct) | High |
| Nov 17 | 1:30 PM | Retail Sales Control Group MoM (Oct) | Medium |
| Nov 17 | 1:30 PM | Import Prices MoM (Oct) | Medium |
| Nov 17 | 2:15 PM | Industrial Production MoM (Oct) | Medium |
| Nov 17 | 3:00 PM | Business Inventories MoM (Sep) | Medium |
| Nov 18 | 1:30 PM | Building Permits (Oct) | Medium |
| Nov 18 | 1:30 PM | Housing Starts (Oct) | Medium |
| Nov 18 | 3:00 PM | Pending Home Sales YoY (Oct) | Medium |
| Nov 18 | 3:00 PM | Pending Home Sales MoM (Oct) | Medium |
| Nov 18 | 7:00 PM | FOMC Minutes | High |
| Nov 18 | 9:00 PM | Net Long-Term TIC Flows (Sep) | Medium |
| Nov 19 | 1:30 PM | Initial Jobless Claims (Nov/14) | Medium |
| Nov 19 | 1:50 PM | Fed Hammack Speech | Medium |
| Nov 20 | 1:30 PM | Retail Sales MoM (Oct) | Medium |
| Nov 23 | 2:45 PM | S&P Global Manufacturing PMI (Nov) | Medium |
| Nov 23 | 2:45 PM | S&P Global Composite PMI (Nov) | Medium |
| Nov 23 | 2:45 PM | S&P Global Services PMI (Nov) | Medium |
| Nov 24 | 2:00 PM | S&P/Case-Shiller Home Price YoY (Sep) | Medium |
| Nov 24 | 3:00 PM | CB Consumer Confidence (Nov) | Medium |
| Nov 25 | 1:30 PM | Durable Goods Orders MoM (Oct) | High |
| Nov 25 | 1:30 PM | Personal Income MoM (Oct) | High |
| Nov 25 | 1:30 PM | Personal Spending MoM (Oct) | High |
| Nov 25 | 1:30 PM | Corporate Profits QoQ (Q3) | Medium |
| Nov 25 | 3:00 PM | New Home Sales MoM (Oct) | Medium |
| Nov 25 | 3:00 PM | New Home Sales (Oct) | Medium |
| Nov 26 | 1:30 PM | Initial Jobless Claims (Nov/21) | Medium |
| Nov 27 | 1:30 PM | Wholesale Inventories MoM (Oct) | Medium |
| Nov 27 | 1:30 PM | Current Account (Q3) | Medium |
| Nov 27 | 1:30 PM | Goods Trade Balance (Oct) | High |
| Nov 30 | 1:30 PM | Gross Domestic Product MoM (Oct) | Medium |
| Nov 30 | 1:30 PM | GDP Growth Annualized (Q3) | High |
| Nov 30 | 1:30 PM | GDP Growth Rate QoQ (Q3) | High |
| Nov 30 | 2:45 PM | Chicago PMI (Nov) | Medium |
Whether to convert CAD to USD depends on the current exchange rate, your payment deadline and your currency requirements. Compare the current USD/CAD rate of 1.3955 with November's expected trading range of 1.3810 to 1.4137 before making your conversion.
You can compare historical monthly exchange rates using CAD to USD exchange rate charts, monthly closing rates and trading ranges. Reviewing these figures helps identify how the Canadian dollar has strengthened or weakened against USD throughout 2026.
October's exchange rate performance provides a benchmark for November. The CAD to USD month-over-month change can be calculated by comparing the two months' closing exchange rates. Until November ends, the latest available rate can provide a provisional comparison with October's closing rate.
The monthly average exchange rate for CAD to USD is generally calculated by averaging daily exchange rates recorded during a calendar month. This provides a broader measure of currency performance than a single day's rate and helps compare exchange rate movements across different months.
CAD month-to-date performance measures exchange rate movements from the beginning of November 2026 to the latest available rate. Trailing 30-day performance covers the most recent 30 days, including part of October. These periods can show different percentage changes for the same currency pair.
For a US$100,000 invoice, a move in USD/CAD from 1.40 to 1.41 increases the Canadian dollar cost from C$140,000 to C$141,000. That's an additional C$1,000 before fees. A move in the opposite direction would reduce the cost by the same amount. This is an illustration, not an exchange rate forecast.
The Japanese yen could strengthen against CAD if the Bank of Japan signals further monetary tightening or global uncertainty increases demand for safer assets. However, stronger Canadian economic growth, elevated commodity prices and improved investor sentiment may favour CAD.
The Bank of England's interest rate decision and guidance could influence GBP/CAD by changing expectations for future UK borrowing costs. A more restrictive monetary policy outlook may support sterling, while signals of easing could weaken GBP against CAD.
Stronger Chinese industrial production and consumer spending could improve demand for Canadian commodities, potentially supporting CAD. However, stronger Chinese economic data could also benefit CNY directly. The direction of CAD/CNY will depend on the relative performance of both currencies.
Changes in monthly exchange rates can directly affect the Canadian dollar cost of paying a US dollar invoice. For a US$100,000 invoice, an exchange rate of 1.38 would cost C$138,000, while a rate of 1.43 would increase the cost to C$143,000. That's a C$5,000 difference before fees. These rates are illustrative, not guaranteed forecasts.
The monthly average exchange rate is calculated from exchange rates recorded throughout a calendar month, while the month-end rate represents the rate at the end of that period. A live CAD to USD rate reflects current market conditions and changes throughout the trading day. Comparing these rates helps identify historical trends, assess CAD monthly performance and understand how currency movements affect conversions.
The Canadian dollar forecast for the next 6 months, from November 2026 to April 2027, depends on interest rate decisions, inflation, employment, oil prices and trade developments. Explore MTFX's five-bank forecasts for a broader USD to CAD forecast for the next 6 months.
The Canadian dollar could strengthen in November 2026 if Canadian employment improves, US inflation softens or expectations for the Canada–US interest rate gap narrow. Stronger domestic growth and supportive oil prices may also help CAD recover. However, trade uncertainty and resilient US economic data could limit gains or push USD/CAD higher.
The Canadian dollar predictions against USD this week depend on Canadian and US economic releases, interest rate expectations and oil prices. Stronger Canadian data or a weakening US dollar could support CAD, while stronger US economic results may push USD/CAD higher. Follow MTFX's Weekly FX Forecast for the latest weekly predictions, expected trading range and market developments.
The American dollar could strengthen against CAD if US economic data remains resilient, inflation stays elevated or the Federal Reserve maintains restrictive monetary policy. However, stronger Canadian growth, improving employment and a narrowing Canada–US interest rate gap could support CAD and push USD/CAD lower.
The Canadian dollar's value changes throughout the trading day based on economic data, interest rate expectations and market conditions. Its current value also depends on the currency you are comparing it against, such as USD, EUR or GBP. For the latest exchange rates, market movements and short-term outlook, visit MTFX's daily Canadian dollar.
Get expert guidance on your international payments and market risks.
