Labour Output / Capita $60,368
+0.3% YoY +0.4% 5Y CAGR
Investment / Capita $14,379
−0.9% YoY +1.8% 5Y CAGR
CAD / USD (2026-09) 1.3880
+0.3% 1Y +9.5% 5Y
Oil / Fuel ($/gal) $4.79
+21.3% YoY $6.64 CAD

Canada Macro Drivers: Productivity, Investment, Oil & CAD/USD

Source Bank of Canada · Statistics Canada · Tables 36-10-0104, 36-10-0206, 36-10-0108, 17-10-0009, 18-10-0001 Unit CAD/USD · C$/capita · Index (2017=100) · $/gal Updated Sep 2026

Monthly USD-to-CAD exchange rate (Bank of Canada) benchmarked with real output per capita (chained 2017 C$), business investment per capita (C$), business sector labour productivity index (2017=100), and national average fuel/oil prices per gallon (CAD & USD).

Reading the data

The Canadian Dollar (CAD/USD) functions as a real-time barometer of Canada's terms of trade, commodity cycles, and structural fundamentals. While global energy prices historically drove the petrodollar dynamic during commodity expansions, sustainable long-term living standards and purchasing power are determined by capital intensity (business investment per capita) and labour productivity (real output per capita). By stacking capital formation alongside exchange rates and fuel prices across synchronized time horizons, this view contrasts underlying productive capacity with bilateral currency and commodity valuation.

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