MTFX FX weekly
Canadian Dollar Weekly Outlook: USD/CAD Forecast and Market Drivers
Direct answer
USD/CAD is trading near [USD/CAD rate], with a weekly change of [USD/CAD 5D]. The expected range to watch this week is [USD/CAD weekly range].
Updated
August 3, 2026
USD/CAD now
1.6180
Aug 03, 2026, 03:21 a.m. ET
Weekly change
+0.77%
USD/CAD [USD/CAD weekly direction] over the past week
Monthly change
-0.40%
Medium-term trend check
Will the Canadian dollar rise or fall in the week ahead?
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
EUR/CAD
Current Rate
1.6180
Weekly Change
+0.77%
GBP/CAD
Current Rate
1.8893
Weekly Change
+0.84%
CAD/JPY
Current Rate
111.64
Weekly Change
-3.84%
CAD/CNY
Current Rate
4.7944
Weekly Change
-0.17%
CAD/INR
Current Rate
67.82
Weekly Change
+0.09%
NZD/CAD
Current Rate
0.8248
Weekly Change
+1.10%
CAD/MXN
Current Rate
12.34
Weekly Change
-0.17%
CHF/CAD
Current Rate
1.7355
Weekly Change
+0.83%
CAD/AUD
Current Rate
1.0144
Weekly Change
-0.16%
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.
How we estimate the weekly range: The range is generated using recent market volatility, current price action and scheduled economic events. It is provided for planning purposes and is not a guaranteed high or low.
EUR/CAD
Now 1.6180
GBP/CAD
Now 1.8893
CAD/JPY
Now 111.64
CAD/CNY
Now 4.7944
CAD/INR
Now 67.82
NZD/CAD
Now 0.8248
USD/CAD economic events in the week ahead
Upcoming USD/CAD economic calendar features U.S. ISM Manufacturing PMI (Jul) on Monday, U.S. JOLTs Job Openings (Jun) on Tuesday, and U.S. ISM Services PMI (Jul) on Wednesday. Based on the current outlook, ISM Manufacturing PMI (Jul) and JOLTs Job Openings (Jun) 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-downside signal. 6 tracked releases favoured CAD strength or USD weakness versus 3 pointing higher. USD/CAD’s 0.77% 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.
ISM Manufacturing PMI (Jul)
ISM Manufacturing Employment (Jul)
Balance of Trade (Jun)
Balance of Trade (Jun)
S&P Global Manufacturing PMI (Jul)
Factory Orders MoM (Jun)
JOLTs Job Openings (Jun)
ADP Employment Change (Jul)
ISM Non-Manufacturing Employment (Jul)
ISM Services PMI (Jul)
ISM Non-Manufacturing PMI (Jul)
ISM Non-Manufacturing Prices (Jul)
Useful USD/CAD tools and forecasts
Frequently asked questions
What is the USD/CAD forecast for the week ahead?
The current weekly USD/CAD bias is [USD/CAD weekly bias], with the pair trading at [USD/CAD rate]. Its expected trading range is [USD/CAD weeklyLow] to [USD/CAD weeklyHigh]. USD/CAD is [USD/CAD weekly change movement] based on recent price movement. Recent momentum remains bearish, although upcoming economic data could change the direction.
Is the Canadian dollar getting stronger or weaker this week?
USD/CAD is [USD/CAD weekly change movement] over the past week. 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 in the week ahead?
Key events: U.S. ISM Manufacturing PMI (Jul) on Monday, U.S. JOLTs Job Openings (Jun) on Tuesday, and U.S. ISM Services PMI (Jul) on Wednesday. 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 [USD/CAD rate], compared with an expected weekly range of [USD/CAD weeklyLow] to [USD/CAD weeklyHigh]. 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 [USD/CAD weekly bias] bias is not a guarantee.
Why can my transfer rate differ from the USD/CAD market rate?
The USD/CAD market rate of [USD/CAD rate] 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 [USD/CAD rate] and its expected range at [USD/CAD weeklyLow] to [USD/CAD weeklyHigh], 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.
