fbpx Skip to main content
Updates (2013-2014)

Canadian Dollar Morning Update

Expected USD/CAD Range: 1.031 – 1.036 Update:  The picture is still murky but in the battle of relative economic performance (which is what is driving the USD/CAD exchange rate these days), America is ahead this morning.  Construction and productivity figures released this morning in the US came in at or above expectations.  In Canada on the other hand, manufacturing sales in June were down 0.5% while economists had expected an increase of 0.3%.  Not surprisingly, the Loonie is down 0.3% against the US Dollar and hovering at the 1.034. The Big Picture:  The commodity boom has seemingly ended (or is at least sputtering).  Relatedly, Chinese and other emerging market economies have slowed notably.  At the same time, the ongoing (admittedly halting) recovery in the US will sooner or later lead to a tapering of the Fed’s bond purchase programs.  As to the timing of the announcement, there seems to be broad consensus forming about tapering beginning later this year with a majority of analysts focused on September.  Closer to home, Canada’s new central banker shows no inclination towards tightening in the near future.  As a result of all of this and not surprisingly, the CAD has declined 4% relative to the USD since the beginning of the year.  We expect the CAD to be even lower relative to its US counterpart by the end of the year.


Are you looking for a better exchange rate?

Get the best exchange rate

Receive daily updates on Canadian dollar

Account to Account Service at Interchange Currency Exchange

Account to Account

If you have US dollar bank account in Canada and are looking to convert in your bank account at better rates than offered by your bank, then this service is for you.

Cash transactions at Interchange Currency Exchange

Cash

We have exchange rates that are much better than the banks and we charge no fees.

Money Transfer services at Interchange Financial

Money Transfer

If you are transferring money internationally or receiving money from overseas, we can help you save money as well because of our better exchange rates.