What moves the Canadian dollar
The Canadian dollar is set against the rest by one bank, the Bank of Canada (BoC), and by the things that bank has to react to. Here is the rate it has set, what it is aiming at, the releases that move this currency and what is on the calendar this week.
Rate and calendar as the research last recorded them, Wed Sep 23, 2026, 9:14pm.
In short
- Central bank
- Bank of Canada (BoC)
- Policy rate
- 2.25%
- Next meeting
- not published
- What the bank targets
- Inflation at 2%, the middle of a 1 to 3% range
The three things that move it
- 1The price of oil, Canada's largest export.
- 2The United States. Most of what Canada sells goes there, so American growth and trade policy land on the Canadian dollar.
- 3The Bank of Canada, which tends to move in the same direction as the Federal Reserve but not always at the same pace.
Tied to oil prices and to the US economy, its largest trading partner.
On the calendar this week
Nothing of the highest impact for the CAD this week. On weeks like that the currency drifts on the rate gap and the risk mood instead.
Times in Amsterdam. The whole week for all eight is on the calendar page.
The other seven
A currency is only strong or weak against another one, so the page next door matters as much as this one.
- USD US dollar
- EUR Euro
- JPY Japanese yen
- GBP British pound
- CHF Swiss franc
- AUD Australian dollar
- NZD New Zealand dollar
What the rate gap between two of them pays is on the rate differentials page, and how a pair is scored from two currencies is on the fundamental bias page.
Questions about the Canadian dollar
What moves the Canadian dollar?
What the Bank of Canada (BoC) does and is expected to do, the releases that bank steers on, the mood of the wider market, and anything political big enough to be priced. A currency only moves against another one, so the same questions apply to the other side of the pair.
Which central bank sets the CAD rate, and what is it aiming at?
The Bank of Canada (BoC). Its target: inflation at 2%, the middle of a 1 to 3% range. A release matters most when it speaks to that target.
Where can I see the current CAD policy rate?
At the top of this page, next to the next scheduled meeting, and next to the other seven on our rate differentials page. It follows the research, so a decision shows up on the day it is made. All eight rates
Do you publish a CAD forecast?
No. We publish a reading of now: how the currency scores against the other seven today and why, rewritten when the news changes. Nobody here will tell you where a currency will be next month. How past calls turned out