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 do investors buy more CAD compared to CAD?

As a result, investors will buy more CAD, driving up the demand for the currency, and increasing its value relative to the USD. On the other hand, when interest rates in the US are higher than those in Canada, the USD typically appreciates relative to the 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.