What is the target price of Canadian dollar & Canadian dollar?

The weighted average target price of the Dollar/Canadian Dollar currency pair as of 08-22-2023: 1.3159. A positive trend is expected with a possible volatility of 0.843%. Pes. A bullish trend is forecast this month with an optimal target level of 1.34948.

Why is the Canadian dollar strong in 2022?

Despite the Canadian dollar’s recent 1.87% bounce to the upside against the U.S. dollar since Oct. 17, surging inflation, a hawkish Federal Reserve (Fed) and poor economic growth have contributed to U.S. dollar strength as a dominant 2022 theme.

What is the CAD/USD exchange rate forecast for 2022?

Analysts at ING Canadian dollar forecast for 2022 saw CAD/USD exchange rate at 1.23 by the fourth quarter of the year, falling from 1.27 in the third quarter. Analysts at the National Bank of Canada were also bullish in their CAD prediction, although less so than analysts at ING.