The US Dollar to Canadian Dollar (USD/CAD) exchange rate has eased back to around 1.4160 after retreating from June’s highs above 1.42, with the Canadian Dollar finding support from firmer oil prices and improving risk sentiment.
Dollar to Canadian Dollar (USD/CAD): 1.41574 (-0.07%)
Pound to Canadian Dollar (GBP/CAD): 1.897869 (-0.13%)
Euro to Canadian Dollar (EUR/CAD): 1.616046 (-0.23%)
ING believes the Canadian Dollar can remain relatively well supported in the near term, although it does not expect USD/CAD to fall back below the key 1.40 level over the next couple of months.
The bank notes that higher oil prices and a modest repricing of Bank of Canada expectations have helped the Loonie outperform the US Dollar this week.
However, ING argues that the bar for a more hawkish Bank of Canada remains high. Unless oil prices return to the elevated levels seen during April and May, inflation pressures should remain sufficiently contained for policymakers to stay cautious.
According to ING, uncertainty surrounding the future of the USMCA trade agreement is likely to keep a risk premium embedded in the Canadian Dollar during the third quarter.
The bank says that while recent support for the Loonie is encouraging, “we still think USMCA-related risk premium can be added throughout 3Q and don’t expect a return below 1.40 in the next couple of months.”
ING expects next week’s Bank of Canada meeting to deliver no major policy surprises, with attention remaining focused on employment, inflation and developments in North American trade negotiations.
Canadian Dollar Prices: This Week
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | +0.19% | -0.41% | +0.21% | -0.30% | -0.18% | -0.85% | +0.61% | |
| EUR | -0.19% | -0.59% | +0.03% | -0.49% | -0.37% | -1.04% | +0.43% | |
| GBP | +0.41% | +0.59% | +0.62% | +0.10% | +0.22% | -0.45% | +1.02% | |
| JPY | -0.21% | -0.03% | -0.62% | -0.51% | -0.39% | -1.06% | +0.40% | |
| CAD | +0.30% | +0.49% | -0.10% | +0.52% | +0.12% | -0.55% | +0.92% | |
| AUD | +0.18% | +0.37% | -0.22% | +0.40% | -0.12% | -0.67% | +0.80% | |
| NZD | +0.86% | +1.05% | +0.45% | +1.07% | +0.55% | +0.67% | +1.48% | |
| CHF | -0.61% | -0.42% | -1.01% | -0.40% | -0.91% | -0.79% | -1.46% |
The FX heat map compares how Canadian Dollar (CAD) has performed against a basket of major currencies over the past week. The largest move was against the Swiss Franc, where Canadian Dollar made its strongest advance. Data comparing prices today (11/07/2026 19:16 UTC) and daily close on 04/07/2026.
To read the table, choose the base currency from the left-hand column and then move across to the quote currency along the top row. For example, the GBP row and USD column shows the weekly percentage move in GBP/USD.
