fbpx Skip to main content

Cart

Daily Updates

USD to CAD Morning Update — July 21, 2020

USD is down 0.6% against CAD this morning and near the lower end of its range for the last several weeks.  The reason is overall USD weakness across most major currencies.  There are multiple reasons for the USD weakness this morning.  First, the deal in Europe on a Covid recovery package financed with bonds backed by the EU has removed a potential source of risk for global economic recovery.  Second, oil prices are up close to 3% this morning.  Third, while the news on the pandemic is still bad in the US, it has not deteriorated in the last few days.  As a result, there is overall optimism and the USD is weaker, especially against “risk currencies” like CAD.  In Canada, retail sales recovered in May by 19% which roughly matches the US retail recovery in that month.  Retail sales still remain 20% under February levels.


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.