What is tradingeconomics forecast for CAD & CAD?

TradingEconomics expected the CAD to be priced against the USD at 1.29 by the end of this quarter, and looking ahead, the USD/CAD forecast will rise to 1.34 in 12 months. In addition to the USD/CAD forecast, the data provider gave price targets for EUR/CAD, GBP/CAD, and AUD/CAD.

What happened to the USD/CAD pair in 2021?

The USD/CAD pair rose to 1.4668; a level last seen on 1 January 2016. After hitting 1.4668, the Canadian dollar strengthened, and USD/CAD fell steadily across the rest of 2020 and the first quarter of 2021, hitting a low of 1.2013 on 3 May

Why is the CAD rising?

In the case of Canada, this is related to the price of oil, the country’s main export. When oil prices rise, the CAD often rises; when oil prices fall, the loonie will often decline. The BoC kicked off the most recent rate hiking cycle on 3 March 2022 – ahead of the Fed – raising rates by 0.25% to 0.5%.

What is the IFC consensus Canadian dollar forecast?

Contact Us or Get Started The IFC Consensus Canadian Dollar Forecast is based on the aggregation of forecasts by major Canadian and Global banks and trading houses. The methodology used to calculate the forecast takes into account, among other things, the historical accuracy of the forecaster as well as other factors deemed relevant.