CAD Market Update
31 Mar 2026 • 00:28 GMT
The Canadian dollar remains near 90-day lows against the US dollar around 0.7179, about 1.5% below its three-month average. The recent decline reflects growing trade uncertainties between Canada and the US, with Barclays recently revising its outlook downward amid concerns over the USMCA renegotiations. Despite some support from higher oil prices, the CAD faces headwinds from tentative US trade talks and expectations that the Bank of Canada may adopt a less aggressive stance.
Meanwhile, the CAD has remained relatively stable against the euro, trading just above its three-month average at 0.6266, and holding steady versus the Swiss franc at 0.5743. Its recent rally against the British pound to near 0.5450 suggests some short-term strength in the currency, although overall trade ranges are narrow.
Market focus remains on commodity prices, particularly oil, and developments in US trade negotiations. Any escalation in trade tensions or a shift in Bank of Canada policy could influence the CAD’s direction. For now, the currency shows signs of cautious stabilization within its recent trading range amid global uncertainty.
📊 Quick forecast view
🔴 Mild downside
0.7050 – 0.7180
🌍 Global risk sentiment
⚪ Range-bound
