fbpx Skip to main content
Daily Updates

USD to CAD Update: Canadian dollar steady despite rising oil prices

By September 27, 2021February 14th, 2024No Comments
This morning, the Canadian dollar exchange rate is little changed from where we ended last week.  USD to CAD is currently at 1.266 (CAD to USD is at 0.790).  After an unusually busy week of news (election, Evergrande, stocks selling off then rebounding, Fed news) and a lot of volatility, we do not expect nearly as much movement this week.  In fact, the Interchange Financial Consensus Canadian Dollar Forecast has the loonie ending the quarter on Thursday at 1.272, so that the exchange rate is already fairly close to our measure of market expectations.  In the US, there is a lot of noise out of Washington about a government shutdown, a default on U.S. debt, and the potential failure in Congress of Biden’s economic plans.  We view those as very unlikely outcomes and part of the usual political theatre.  The Evergrande risk out of China seems to be receding, though it is still very unclear how the authorities are addressing the failure of the giant Chinese developer.  Oil is up for the fifth day in a row and nearing multi-year highs on concerns about supply constraints.  However, its usual impact on the Canadian dollar has been muted by the overall cautious tone in the markets, which remain on guard for the beginning of the end of monetary stimulus in the next couple of months.


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.