Canadian dollar Market Update, Chart & History

CAD Market Update

06 May 2026 • 00:30 GMT

The Canadian dollar remains stable against the US dollar, trading around 0.7350, just slightly above its three-month average of 0.7294. Oil prices have supported the CAD recently, but ongoing geopolitical tensions and risk aversion have kept a lid on bigger moves. With US dollar movements influenced by softer market sentiment and a weaker US services PMI, the USD has retreated from recent safe-haven flows.

Looking ahead, some strategists see the US dollar softening further against the CAD, with forecasts suggesting USD/CAD could move toward 1.34 by the end of the year. However, rising oil prices and uncertainty in global politics could keep the currency pair volatile.

In other pairs, the CAD has shown little overall movement, trading within narrow ranges. It’s near its three-month average versus currencies like the euro and yen, but remains somewhat weaker against the Australian dollar. Overall, the CAD’s recent stability reflects a balance between supportive oil prices and ongoing geopolitical concerns, making it a currency to watch closely in the coming weeks.

📊 Quick forecast view

Near-term bias: 🟢 Mild upside

Expected range: 0.7170 – 0.7350

Dominant driver: 🌍 Global risk sentiment

3-month trend: 🔴 Downtrend

CAD/USD Forecasts

CAD/USD Rates

Canadian dollar to US dollar - CAD/USD Trend

CAD to USD at 0.7350 is just 0.8% above its 3-month average of 0.7294, having traded in a very stable 2.9% range from 0.7170 to 0.7377

05-MAY 8PM-NY 06-MAY 1AM-LON 8AM-HK 10AM-SYD

1 CAD = USD

1d+0.1%▲

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