Canadian dollar (CAD) market outlook and exchange rates

CAD Market Update

10 Aug 2026 • 00:28 GMT

CAD/USD 0.7168

The Canadian dollar remains stable against the US dollar, trading near 0.7168, just above its three-month average. Over the past few weeks, the CAD has stayed within a narrow 4.1% range, from 0.7026 to 0.7311, suggesting steady sentiment.

Oil prices, which influence the CAD due to Canada's resource exports, have supported the loonie recently. Meanwhile, the Bank of Canada has kept interest rates steady at 2.25%, maintaining an open stance on future hikes. Market attention remains on oil price movements and possible policy updates from the BoC.

Against the euro and GBP, the CAD has also been steady, with minor fluctuations within their usual ranges. Notably, the CAD is near its three-month average versus the euro and slightly below its recent high against the pound.

Looking ahead, global oil trends and negotiations around the USMCA could impact the CAD's direction. For now, the currency maintains its stable tone in a cautious market environment.