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USD to CAD Forecasts – US dollar to Canadian dollar

Latest USD to CAD forecasts including bank predictions, key market drivers and recent trends for USD/CAD. See where analysts expect the pair to move and the factors likely to influence it.

 

USD to CAD Forecast & Outlook

18 Jul 2026 • 00:24 GMT

USD/CAD 1.4021

📊 Forecast snapshot

  • Near-term bias: 🟢 Mild upside
  • Expected range: 1.3580 – 1.4020
  • Dominant driver: 🌍 Global risk sentiment
  • 3-month trend: ⚪ Range-bound

Currently, USD/CAD is holding near its recent range as the current drivers are not aligned clearly enough for a stronger directional call. Over the next few sessions, this balance may persist unless a clearer macro catalyst emerges.

💸 Transfer implications

  • Expats: sending money to Canada may find USD more favourable than recent levels if the pair rises slightly.
  • Travellers: buying CAD cash or loadings onto currency cards may face less favourable exchange conditions if the pair moves higher.
  • Businesses: paying Canadian invoices in USD might see the cost of transactions stay relatively stable but could face pressure if USD strength persists.

🧭 Key drivers

  • Rate gap: The USD remains supported by US rate policy expectations, limiting downside for USD/CAD.
  • Risk/commodities: Safe-haven flows support USD, while rising energy prices lend some support to CAD sentiment.
  • Global factors: Geopolitical tensions and risk-off sentiment dominate the current environment, maintaining USD strength.

⚠️ What could change it

  • Upside risk: A further escalation in geopolitical tensions could push USD/CAD higher.
  • Downside risk: A shift in risk sentiment, or a slowdown in safe-haven flows, could lead to a modest decline in USD/CAD.

BER suggests shopping around for the lowest margins can help offset less favourable exchange conditions. Comparing FX providers may help reduce overall transfer costs.

 

USDCAD Bank Forecasts to end of the year

The outlook for the USDCAD pair remains influenced by diverging macroeconomic factors. Scotiabank, the only major institution with a recent forecast, projects the pair to reach 1.33 by the end of 2026. This forecast suggests an expectation of Canadian economic resilience potentially coupled with moderate Bank of Canada tightening. The current high level of USD strength and CAD weakness due to speculative positioning and Fed policy expectations highlight the uncertainties impacting the pair.

Big bank views

  • Scotiabank forecasts USDCAD at 1.33 by the end of 2026.
  • Economic fundamentals and anticipated BoC tightening influence Scotiabank’s outlook.
  • The current market conditions, driven by Fed expectations, contrast with Scotiabank’s forecast.

What could change the outlook

  • A shift in the Federal Reserve's interest rate policy could strengthen or weaken the USD.
  • Changes in Canadian economic indicators or BoC policy decisions could alter CAD expectations.
 

USD-CAD Rate Calculator

 
 
   
   
   
   
   
 
 

USD to CAD Market Data

US dollar (USD) to Canadian dollar (CAD) market data - latest interbank exchange rate, trend, chart & historic rates.

 
Sell USD   →   Buy CAD
1 USD =
1.4028We compare provider deals to this wholesale mid-market rate. Read more
CAD
1d−0.1%▼
USD to CAD is at 30-day lows near 1.4021, just 0.9% above its 3-month average of 1.3908, having traded in a quite stable 4.8% range from 1.3582 to 1.4233
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  1 CAD = 0.7129 USD

Compare & Save - US dollar to Canadian dollar

Exchange rates can vary significantly between different currency exchange providers, so it's important to compare US dollar (USD) to Canadian dollar (CAD) rates from different sources before making a conversion.

Use our USD to CAD calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on Dollar to Loonie currency rates and the possible savings of using various providers.

 
 

Will the US dollar rise against the Canadian dollar?

This is always a difficult question as exchange rates are influenced by many factors, so a good method to consider the US dollar vs Canadian dollar current value is to look the USD/CAD historic rate and change over a range of periods.

The following table looks at the change in the USD to CAD exchange rate over periods from the previous week back to the last 10 years.

DateUSD/CADChangePeriod
03 Jul 2026
1.4200
1.1% ▼2 Week
18 Apr 2026
1.3779
1.9% ▲3 Month
17 Jul 2025
1.3737
2.2% ▲1 Year
18 Jul 2021
1.2620
11.3% ▲5 Year
19 Jul 2016
1.3010
7.9% ▲10 Year
22 Jul 2006
1.1346
23.8% ▲20 Year
USD/CAD historic rates & change to 17-Jul-2026

It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

To help with this you can add USD/CAD to your personalised Rate Tracker to track and benefit from currency movements.

 
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Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.

Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending

 

Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more