What is the USD/CAD forecast for 2022?

For its USD/CAD forecast for 2022, TD Economicsestimated the currency pair to trade at 1.27 in the third quarter of this year, dropping 1.24 per dollar in the fourth quarter. USD/CAD was expected to rise to 1.26 in the first quarter 2023, 1.28 in the second quarter, and 1.30 in the third quarter before dropping slightly to 1.29 per dollar.

How did the CAD perform in 2021?

The CAD briefly strengthened against the USD in October at 1.23 per US dollar, before gradually spiking to hit 1.29 per dollar in December. In the second half of 2021, the US Fed had indicated that it will start scaling back asset purchases and hiking interest rates. The Fed’s hawkish tone had boosted the greenback.

What's going on with the USD/CAD?

This year has been a wild roller-coaster ride for the USD/CAD. The currency pair swung sharply from the lows to highs, touching an 18-month peak in May. The volatility has continued amid tightening monetary policy, cooling oil prices and the expected slowing US economy, Canada’s main trading partner. 1m5m15m30m1h4h1d1w

What is the FXstreet forecast poll about USD/CAD (US dollar vs Canadian dollar)?

The FXStreet Forecast Poll about USD/CAD (US Dollar vs Canadian Dollar) is a sentiment tool that highlights our selected experts' near and medium term mood and calculates trends according to Friday's 15:00 GMT price.