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 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.

What happened to the USD/CAD pair in 2021?

After bottoming in May 2021, the USD/CAD pair gradually climbed up, crossing US$1.28 per dollar several times in the second half as the US dollar strengthened against the weaker CAD. 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.

Why does the USD appreciate compared to the CAD?

On the other hand, when interest rates in the US are higher than those in Canada, the USD typically appreciates relative to the CAD. This is because higher interest rates in the US make the USD more attractive to investors looking to earn higher returns.