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CAD Market Update
29 Jul 2026 • 00:27 GMT
The Canadian dollar (CAD) is slightly weaker against the US dollar, trading around 0.7088. This is about 1.1% below its three-month average of 0.7166, indicating a modest pullback. The move comes amid weaker oil prices, which have dipped to roughly US$79.40 per barrel. Since Canada relies heavily on energy exports, lower oil prices tend to weigh on the CAD.
Despite the slight decline, the CAD remains within a stable trading range, with little recent volatility. Market focus is now on oil price trends and US-Dollar strength, as these factors could influence the CAD’s next move. The US dollar remains supported by stable growth and inflation concerns, and energy markets are closely watched for any signs of further declines or rebounds.
Overall, the Canadian dollar continues to trade close to its fair value, and traders are watching for changes in oil or US economic conditions that could impact its outlook. For now, the currency remains fairly steady, with limited immediate directional moves.
Forecast snapshot
Quick CAD/USD forecast
Near-term bias⚪ Range-bound
Expected range0.7060 – 0.7270
Dominant driver⚖️ Interest-rate differentials
3-month trend🔴 Downtrend
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Popular CAD exchange rates
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1 CAD =0.7098USD
1D+0.1%▲
1 CAD =0.6237EUR
1D0.0%⬦
1 CAD =12.44MXN
1D0.0%⬦
1 USD =0.8787EUR
1D−0.2%▼
1 CAD =68.00INR
1D−0.1%▼
1 CAD =0.5343GBP
1D+0.2%▲
1 CAD =43.62PHP
1D−0.2%▼
1 CAD =1.0246AUD
1D+0.4%▲
1 INR =0.014705CAD
1D+0.1%▲
