fbpx Skip to main content
Daily Updates

USD to CAD Update: Canadian Dollar Retreats from Recent Highs

By March 19, 2021February 27th, 2024No Comments
The near term picture for USD to CAD is going to be dominated by two opposing trends.  Helping to push the Canadian dollar up is extraordinary support from central banks for as long as the eye can see, record stock prices, and strong commodity prices.  On the other hand, the primary short-term risk to the Loonie are rising inflation expectations leading to rising bond yields in the US and Canada.  Yesterday and today, the fear of rising yields have been the greater force.  As a result, the Canadian dollar is now off by over 1% from the 3-year highs it hit earlier in the week.  Also contributing to Canadian dollar weakness over the last two days has been softening oil prices which are now around 9% off their recent highs.  Canadian retail sales in January came in stronger than expected but did not move the exchange rate in light of the macro factors already mentioned.


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.