Canadian Dollar (USD/CAD) news & analysis
USD/CAD is the exchange rate between the US dollar and the Canadian dollar, a major pair closely tied to oil prices and US–Canada trade.
The reading
The news
No clear impulse
Priced in
Not yet priced in
What follows
Nothing worth acting on
Reading as of . Research context, not investment advice. It never tells you what to trade.
How a reading is madeWhy is USD/CAD up or down today?
The Canadian dollar rose to a seven-week high near its September 16 levels as markets digested US election results and a broadly weaker US dollar following the Democratic sweep. Attention has shifted to upcoming US and Canadian jobs data, with oil prices recovering and BoC Governor Macklem keeping the rate-hike door open, even as the currency has decoupled from oil.
Updated
Latest news
Friday, November 6
Thursday, November 5
- The Canadian Dollar just decoupled from OilFXStreet
- BoC’s Macklem keeps rate hike door open, downplays fiscal risksFXStreet
- Canadian Dollar sits near September 16 highs vs USD as traders eye jobs data on FridayFXStreet
- Canadian Dollar gains as US Dollar weakens following Democratic election sweepFXStreet
Upcoming economic events
| Event | Forecast | Currency |
|---|---|---|
| Friday, November 6 | ||
| FOMC Member Logan Speaks | USD | |
| FOMC Member Williams Speaks | USD | |
| Unemployment Rate | 4.2% | USD |
| Employment Change | 14.6K | CAD |
| Non-Farm Employment Change | 65K | USD |
| Unemployment Rate | 6.5% | CAD |
| Average Hourly Earnings m/m | 0.3% | USD |
| FOMC Member Musalem Speaks | USD | |
Day by day
55 days on record since September 13, 2026. Each column is one day: the bar is its headlines, the mark is the reading at its close.
Recent days
- Thu, Nov 5Neutral14 headlines. The Canadian Dollar has risen to seven-week highs near its September 16 levels as a broadly weaker US dollar following US election results and falling Treasury yields weighed on USD/CAD.
- Wed, Nov 4Neutral13 headlines. The Canadian Dollar has gained ground against a broadly weaker US dollar, helped by falling Treasury yields and rebounding oil prices, reaching a seven-week high as markets digested US election results.
- Tue, Nov 3Neutral13 headlines. The Canadian dollar has been supported by rebounding oil prices, including gains linked to hostilities in Iran, while Bank of Canada Governor Macklem signals more rate hikes as oil fuels inflation risks.
- Mon, Nov 2Neutral11 headlines. The Canadian dollar is holding near its September 16 and six-week highs as a weaker U.S. dollar on easing safe-haven demand is being offset by declining oil prices.
- Sun, Nov 1Neutral9 headlines. The Bank of Canada is contending with the spectre of inflation after a rate hike, with focus now turning to the federal budget, trade and jobs.
Frequently asked questions
- What is USD/CAD?
- USD/CAD is the exchange rate between the US dollar and the Canadian dollar, showing how many Canadian dollars one US dollar buys. The Canadian dollar is often nicknamed the "loonie."
- What moves USD/CAD?
- The pair is driven mainly by the interest-rate differential between the US Federal Reserve and the Bank of Canada, oil prices, US and Canadian economic data, and trade between the two countries.
- Why is the Canadian dollar linked to oil?
- Crude oil is one of Canada's largest exports, most of it sold to the United States, so changes in oil prices affect Canada's export income and demand for its currency.
Not investment advice. For informational purposes only.