Latest market analysis
CAD Market Update
31 Jul 2026 • 00:27 GMT
The Canadian dollar is trading near 30-day highs against the US dollar at around 0.7138, just below its three-month average. The recent stability in the USD/CAD exchange rate reflects a balanced market, with the loonie holding within a comfortable range from 0.7026 to 0.7358 over the past month.
However, the Canadian dollar has faced some pressure this week due to declining oil prices, which are now around US$79.40. As oil is a key export for Canada, lower prices can weigh on the CAD’s strength, especially if oil continues to slide. Additionally, ongoing global uncertainties and concerns about US economic outlooks add to the cautious tone.
Looking ahead, many analysts remain divided on where USD/CAD is headed by year-end, with forecasts ranging from 1.34 to 1.40. For now, the loonie’s position appears comfortably supported near current levels, but traders should keep an eye on oil prices and US economic indicators that could influence the pair’s next move.
Forecast snapshot
Quick CAD/USD forecast
Near-term bias🔴 Mild downside
Expected range0.7230 – 1.3400
Dominant driver🌍 Global risk sentiment
3-month trend⚪ Range-bound
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Popular CAD exchange rates
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1 CAD =0.7130USD
1D+0.3%▲
1 CAD =0.6203EUR
1D−0.2%▼
1 CAD =12.37MXN
1D−0.3%▼
1 USD =0.8701EUR
1D−0.5%▼
1 CAD =68.03INR
1D+0.2%▲
1 CAD =0.5307GBP
1D−0.4%▼
1 CAD =43.68PHP
1D+0.1%▲
1 CAD =1.0148AUD
1D−0.7%▼
1 INR =0.014700CAD
1D−0.2%▼
