MTFX FX weekly
Canadian Dollar Weekly Outlook: USD/CAD Forecast and Market Drivers
Direct answer
USD/CAD is trading near 1.4040, with a weekly change of -0.31%. The key range to watch this week is 1.3883 - 1.4251.
Updated
July 29, 2026
USD/CAD now
1.4040
1.3883 - 1.4251
Weekly change
-0.31%
USD/CAD moved lower last week
Monthly change
-1.19%
Medium-term trend check
Will the Canadian dollar rise or fall in the upcoming week?
A lower USD/CAD rate means the Canadian dollar is strengthening against the US dollar, while a higher rate means the US dollar is gaining against CAD. The weekly direction may change as markets respond to economic data, central-bank expectations, oil prices and global risk sentiment.
Canadian dollar weekly performance
USD / CAD
Current Rate
1.4040
Weekly Change
-0.31%
EUR / CAD
Current Rate
1.6074
Weekly Change
+0.34%
GBP / CAD
Current Rate
1.8750
Weekly Change
+0.02%
CAD / JPY
Current Rate
116.40
Weekly Change
+0.08%
CAD / CNY
Current Rate
4.8234
Weekly Change
+0.20%
CAD / INR
Current Rate
68.15
Weekly Change
-0.90%
NZD / CAD
Current Rate
0.8154
Weekly Change
+0.36%
CAD / MXN
Current Rate
12.42
Weekly Change
-0.23%
CHF / CAD
Current Rate
1.7225
Weekly Change
-0.07%
CAD / AUD
Current Rate
1.0224
Weekly Change
+0.37%
Planning a large transfer over the next week?
Weekly Canadian dollar forecast against major currencies
See this week’s outlook, expected trading range and key market drivers for USD/CAD and other major CAD pairs.
USD / CAD
Now 1.4040
USD / CAD forecast for upcoming week
Expected weekly USD / CAD trading range
EUR / CAD
Now 1.6074
GBP / CAD
Now 1.8750
CAD / JPY
Now 116.40
CAD / CNY
Now 4.8234
CAD / INR
Now 68.15
Looking to buy US dollars at a competitive exchange rate?
Upcoming USD/CAD economic events
Upcoming USD/CAD economic calendar features Fed Interest Rate Decision on Wednesday, U.S. Gross Domestic Product QoQ (Q2) on Thursday, and U.S. Personal Spending MoM (Jun) on Thursday. Based on the current outlook, Fed Interest Rate Decision and Gross Domestic Product QoQ (Q2) could create volatility, with stronger- or weaker-than-expected results influencing the relative performance of the Canadian and US dollars.
Over the past week, actual-versus-consensus results produced a net USD/CAD-upside signal. 4 tracked releases favoured USD strength or CAD weakness versus 3 pointing lower. USD/CAD’s 0.31% five-day move diverges from that event signal. The upcoming week’s U.S. calendar will test whether that direction extends or reverses. However, the direction and extent of the move generally depend on how the data compares with market expectations.
Fed Interest Rate Decision
Jul 29, 14:00
Gross Domestic Product QoQ (Q2)
Jul 30, 08:30
Personal Spending MoM (Jun)
Jul 30, 08:30
Initial Jobless Claims (Jul/25)
Jul 30, 08:30
Atlanta Fed GDPNow (Q3)
Jul 30, 10:00
Gross Domestic Product MoM (Jun)
Jul 31, 08:30
Chicago PMI (Jul)
Jul 31, 09:45
OPEC Meeting
Aug 02, 06:00
ISM Manufacturing PMI (Jul)
Aug 03, 10:00
ISM Manufacturing Employment (Jul)
Aug 03, 10:00
Balance of Trade (Jun)
Aug 04, 08:30
Balance of Trade (Jun)
Aug 04, 08:30
Useful USD/CAD tools and forecasts
FAQs
What is the USD/CAD forecast for this week?
The current weekly USD/CAD bias is bearish, with the pair trading at 1.4040. Its expected trading range is 1.3883 to 1.4251. The bias reflects the forward-looking outlook, while the range provides planning context rather than guaranteed market levels.
Is the Canadian dollar getting stronger or weaker this week?
USD/CAD is down over the past week (▼-0.31%). A rising USD/CAD rate indicates US-dollar strength and Canadian-dollar weakness, while a falling rate indicates CAD strength. A flat reading means the relative value of the two currencies has remained broadly stable.
Which economic events could move USD/CAD this week?
Key events: Fed Interest Rate Decision on Wednesday, U.S. Gross Domestic Product QoQ (Q2) on Thursday, and U.S. Personal Spending MoM (Jun) on Thursday. Stronger-than-expected US results generally support a higher USD/CAD rate, while stronger Canadian results generally favour a lower rate. Results close to consensus may leave the pair broadly stable, although market positioning can influence the reaction.
Is it a good time to exchange CAD to USD, or should I wait?
USD/CAD is currently 1.4040, compared with an expected weekly range of 1.3883 to 1.4251. A move towards the lower end generally benefits someone buying US dollars with CAD, while a move towards the upper end benefits someone converting USD into CAD. Your payment deadline, target rate and tolerance for further movement should guide the decision; the current bearish bias is not a guarantee.
Why can my transfer rate differ from the USD/CAD market rate?
The USD/CAD market rate of 1.4040 is a reference price used in global currency markets. The rate available for a transfer may differ because of the exchange-rate margin, transfer amount, payment method and any applicable intermediary or receiving-bank charges. Compare the final amount delivered rather than the market rate alone.
Can I set a USD/CAD rate alert or lock in an exchange rate?
Yes. With USD/CAD trading at 1.4040 and its expected range at 1.3883 to 1.4251, a rate alert can notify you when the pair reaches your target. For an eligible future payment, a forward contract may let you secure a rate in advance, subject to availability and applicable terms.
