Canadian Dollar - Quote - Chart - Historical Data (2024)

The Canadian dollar weakened past 1.35 per USD, pulling back from the five-month high of 1.344 on August 27th, as investors absorbed the latest labor market data in Canada and the US. Canada’s unemployment rate rose to 6.6% in August from 6.4% in July, the highest since October 2021 and above the forecasted 6.5%, reinforcing the Bank of Canada's outlook for a cooling labor market and justifying continued monetary easing. This sentiment aligned with the BoC’s recent 25bps rate cut, where policymakers highlighted concerns over slowing job growth and downside risks to the broader economy. However, Governor Macklem noted persistent price pressures in the housing market and select services, maintaining inflationary challenges, which was interpreted as hawkish and supported the loonie. Meanwhile, in the US, disappointing job growth in August and downward revisions for June and July fueled speculation of a significant Federal Reserve rate cut, pressuring the US dollar.

The USDCAD increased 0.0011 or 0.08% to 1.3586 on Friday September 13 from 1.3575 in the previous trading session. Historically, the USDCAD reached an all time high of 1.62 in January of 2002. Canadian Dollar - data, forecasts, historical chart - was last updated on September 14 of 2024.

The USDCAD increased 0.0011 or 0.08% to 1.3586 on Friday September 13 from 1.3575 in the previous trading session. The Canadian Dollar is expected to trade at 1.35 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.36 in 12 months time.

Canadian Dollar

The USDCAD spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the CAD. While the USDCAD spot exchange rate is quoted and exchanged in the same day, the USDCAD forward rate is quoted today but for delivery and payment on a specific future date.