USD/CAD Exchange rate
Editors’ Picks
Gold: Record rally sustains near $4,500 on safe-haven flows
Gold sustains the record-setting rally near $4,500 in the Asian session on Wednesday. The Israel-Iran conflict and the escalating US-Venezuela tensions boost safe-haven flows into Gold. Furthermore, US Q3 GDP data fails to lift the US Dollar amid growing bets for two Fed rate cuts in 2026, underpinning the non-yielding bullion.
AUD/USD: Buyers recapture 0.6700 on extended USD weakness
AUD/USD is holding higher ground above 0.6700 in Wednesday's Asian trading as the US Dollar falls across the board. The Australian Dollar is catching a fresh bullish bid as the Reserve Bank of Australia faces down future interest rate hikes in 2026, while the Federal Reserve is expected to get caught in a long-run rate-cutting cycle, depressing Greenback market flows.
USD/JPY stays deep in the red below 156.00 on intervention risks
USD/JPY stays deep in the red below 156.00 in the Asian session on Wednesday. The US Dollar weakens despite the stronger-than-expected US Q3 Gross Domestic Product report, while the Japanese Yen capitalizes on looming risks of a forex market intervention by local authorities.
Bitcoin, Ethereum and Ripple face downside risks as breakout attempts falter
Bitcoin, Ethereum and Ripple continue to trade in red on Wednesday as recent breakout attempts lose momentum near key resistance levels. BTC failed to reclaim the $90,000, ETH slipped below $3,000, while XRP faced rejection near $1.96.
Ten questions that matter going into 2026
2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.
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Signatures
USD/CAD
The USD/CAD represents how many Canadian Dollars (the quote currency) are needed to purchase one US Dollar (the base currency). The nickname “Loonie” originates from the Gold-colored Canadian one-dollar coin introduced in 1987 and produced by the Royal Canadian Mint in Winnipeg.
The coin reverse features a common loon, a bird found throughout Canada, while the obverse displays the portrait of Queen Elizabeth II, the nation's former head of state.
HISTORIC HIGHS AND LOWS FOR USD/CAD
- All-time records: Max: 1.6192 on 18/01/2002 – Min: 0.9059 on 01/11/2017
- Last 5 years: Max: 1.4668 on 19/03/2020 – Min: 1.2007 on 01/06/2021
* Data as of December 2024
USD/CAD 2025 FORECAST
In the USD/CAD 2025 Forecast, FXStreet analyst Joshua Gibson suggests uncertainty and risk-off sentiment could strengthen the US Dollar (USD) early in 2025, while the Canadian Dollar (CAD) is expected to weaken in the first quarter. However, CAD investors may reassess prospects as the year progresses, focusing on the Federal Reserve (Fed)- Bank of Canada (BoC) policy dynamics.
From a technical point of view, USD/CAD could face a technical ceiling near the 1.4400 level after the Canadian Dollar's sharp 8.5% decline in 2024 sent the pair to 56-month highs. However, technical indicators like the MACD suggest caution, as short positions may only become viable once clear sell signals emerge, likely during the first quarter.
INFLUENTIAL CURRENCIES FOR USD/CAD
The Japanese Yen (JPY) and the Euro (EUR). Another important group of influent pairs includes: EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF and NZD/USD.
MOST INFLUENTIAL ORGANIZATIONS FOR USD/CAD
- The Bank of Canada (BoC) is the nation's central bank. Its principal role, as defined in the Bank of Canada Act, is "to promote the economic and financial welfare of Canada." The BoC sets interest rates and manages monetary policy at eight scheduled meetings a year and ad hoc emergency meetings that are held as required. The BoC’s primary mandate is to maintain price stability, which means keeping inflation at between 1-3%. Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Canadian Dollar (CAD) and vice versa. Other tools used include quantitative easing and tightening.
- The Federal Reserve (Fed) is the central bank of the United States (US) and it has two main targets: to maintain the unemployment rate at its lowest possible levels and to keep inflation around 2%. The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors and the partially appointed Federal Open Market Committee (FOMC). The FOMC organizes eight scheduled meetings in a year to review economic and financial conditions. It also determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. The FOMC Minutes, which are released by the Board of Governors of the Federal Reserve weeks after the latest meeting, are a guide to the future US interest-rate policy.