MTFX FX weekly
Canadian Dollar Weekly Outlook: USD/CAD Forecast and Market Drivers
Direct answer
USD/CAD is trading near 1.4094, with a weekly change of +0.38%. The key range to watch this week is 1.4066-1.4115.
Updated
July 24, 2026
USD/CAD now
1.4094
1.3925 - 1.4256
Weekly move
+0.38%
USD/CAD moved higher last week
Monthly move
-0.97%
Medium-term trend check
Will the Canadian dollar rise or fall this 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
1.4094
Weekly Change
+0.38%
EUR / CAD
Current Rate
1.6026
Weekly Change
-0.20%
GBP / CAD
Current Rate
1.8781
Weekly Change
-0.70%
CAD / JPY
Current Rate
116.22
Weekly Change
+0.54%
CAD / CNY
Current Rate
4.7887
Weekly Change
-0.72%
CAD / INR
Current Rate
68.37
Weekly Change
-0.35%
NZD / CAD
Current Rate
0.8164
Weekly Change
-0.48%
CAD / MXN
Current Rate
12.48
Weekly Change
+0.55%
CHF / CAD
Current Rate
1.7229
Weekly Change
-0.74%
CAD / AUD
Current Rate
1.0155
Weekly Change
-0.20%
Planning a large transfer in the upcoming 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 1.4094
USD / CAD forecast for next week
Expected weekly USD / CAD trading range
EUR / CAD
Now 1.6026
GBP / CAD
Now 1.8781
CAD / JPY
Now 116.22
CAD / CNY
Now 4.7887
CAD / INR
Now 68.37
Looking to buy US dollars at a competitive exchange rate?
Upcoming USD/CAD economic events
This week’s USD/CAD economic calendar features Fed Interest Rate Decision on Wednesday, U.S. Durable Goods Orders MoM (Jun) on Monday, and U.S. CB Consumer Confidence (Jul) on Tuesday. Based on the current outlook, Fed Interest Rate Decision and Durable Goods Orders MoM (Jun) could create volatility, with stronger- or weaker-than-expected results influencing the relative performance of the Canadian and US dollars.
Across the past week, actual-versus-consensus results produced a net USD/CAD-upside signal, with 10 tracked releases favouring USD strength or CAD weakness versus 1 pointing lower. USD/CAD’s 0.38% five-day move confirms that 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.
Useful USD/CAD tools and forecasts
FAQs
What is the USD/CAD forecast for this week?
As of July 24, 2026, the USD/CAD outlook is neutral, with the pair trading at 1.4094.
USD/CAD has changed +0.38% over the past week and -0.97% over the past month. The weekly outlook may change as markets respond to economic data, central-bank expectations, oil prices and global risk sentiment.
Will the Canadian dollar rise or fall next week?
The current USD/CAD outlook is neutral, but short-term currency forecasts are not guarantees.
A fall in USD/CAD would mean the Canadian dollar is strengthening against the US dollar. A rise would mean the US dollar is gaining against CAD. Upcoming economic data, interest-rate expectations, oil prices and market sentiment could change the direction next week.
What is the Canadian dollar forecast for next week?
As of July 24, 2026, the current USD/CAD outlook is neutral. The pair is trading at 1.4094, after changing +0.38% over the last week and -0.97% over one month.
Next week’s direction will depend on Canadian and US economic data, central-bank policy expectations, commodity prices and global demand for the US dollar.
What is the USD/CAD exchange rate this week?
As of July 24, 2026, the USD/CAD exchange rate is 1.4094, meaning one US dollar buys approximately 1.4094 Canadian dollars.
The pair has moved +0.38% over the past week and -0.97% over the past month. These figures provide a clearer view of the recent trend than the current rate alone.
What range is USD/CAD trading in?
As of July 24, 2026, USD/CAD has traded between 1.4066 and 1.4115 today. The current rate of 1.4094 is positioned 58% within the daily range.
The daily range is 1.4066-1.4115. Weekly trading conditions may be wider as economic releases and market developments create additional volatility.
What is driving the Canadian dollar this week?
The Canadian dollar is commonly influenced by Bank of Canada expectations, Canadian economic data, oil prices, US dollar strength and global risk sentiment.
As of July 24, 2026, USD/CAD is flat today, with a daily move of —. The current movement should be considered alongside the latest market commentary, because pricing data alone cannot identify the exact cause.
Which economic events could move the Canadian dollar this week?
Canadian inflation, employment, retail sales and GDP reports can affect expectations for Bank of Canada policy. US inflation, labour-market data, growth reports and Federal Reserve commentary can influence the US dollar and USD/CAD.
Oil inventory data and geopolitical developments may also affect CAD because Canada is a major energy exporter. Results that differ significantly from market expectations can lead to greater exchange-rate volatility.
How has USD/CAD performed recently?
As of July 24, 2026, USD/CAD has changed:
- +0.38% over the week
- -0.97% over one month
- +3.39% over one year
These comparisons help show whether the latest movement is part of a broader trend or a short-term fluctuation.
What does a higher or lower USD/CAD rate mean?
USD/CAD shows how many Canadian dollars are required to buy one US dollar.
A higher USD/CAD rate means the US dollar has strengthened relative to CAD. This generally makes US dollars more expensive for someone converting CAD to USD.
A lower rate means the Canadian dollar has strengthened, generally allowing a Canadian buyer to receive more US dollars for the same amount of CAD.
Is this a good week to convert CAD to USD or USD to CAD?
As of July 24, 2026, USD/CAD is trading at 1.4094. The pair has changed +0.38% over the week, -0.97% over one month and - over three months.
Whether the rate is favourable depends on your conversion direction, payment deadline and tolerance for further movement. A lower USD/CAD rate generally benefits someone buying US dollars, while a higher rate generally benefits someone converting USD to CAD.
What is the difference between the USD/CAD market rate and my transfer rate?
The USD/CAD market rate is a reference price used in global currency markets. The rate available for an actual transfer may differ because banks and currency providers can include an exchange-rate margin, transfer fee or both.
The final amount may also depend on the transfer size, payment method and any intermediary or receiving-bank fees. Compare the amount the recipient will receive rather than only the displayed market rate.
Can I set an alert or lock in a USD/CAD rate for a planned payment?
A rate alert can notify you when USD/CAD reaches a level you are monitoring, helping you follow the market without checking it continuously.
For an eligible future payment, a forward contract may allow you to secure an exchange rate in advance. This can make the cost of a planned property payment, tuition fee, supplier invoice or other international transfer more predictable. Availability and terms depend on the transaction.
How reliable are weekly currency forecasts?
Weekly currency forecasts are informed assessments based on current economic data, central-bank expectations, recent price behaviour and market sentiment. They are not guarantees.
Unexpected economic results, interest-rate announcements, geopolitical developments and sharp changes in oil prices can quickly alter the outlook. Forecasts are most useful as planning context alongside your deadline, budget and ability to manage exchange-rate movement.
