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    CAD Market Update

    12 Aug 2026 • 00:28 GMT

    CAD/USD 0.7184

    The Canadian dollar has recently reached a 60-day high against the US dollar, supported by higher oil prices and cautious optimism about Canada's economy, despite the Bank of Canada's steady rate. However, ongoing US dollar strength and expectations of Federal Reserve tightening suggest the CAD's gains may face headwinds, maintaining a somewhat cautious outlook.

    Forecast snapshot

    Quick CAD/USD forecast

    Near-term bias🔴 Mild downside
    Expected range0.7170 – 0.7300
    Dominant driver🏦 Central bank policy divergence
    3-month trend🟢 Uptrend
     

     

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