What is the USD to CAD forecast for January 2024?

US Dollar to Canadian Dollar forecast for January 2024. In the beginning rate at 1.333 Canadian Dollars. High exchange rate 1.337, low 1.297. The average for the month 1.321. The USD to CAD forecast at the end of the month 1.317, change for January -1.2%. USD to CAD forecast for February 2024. In the beginning rate at 1.317 Canadian Dollars.

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.

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.

Will the CAD appreciate if the Fed raises interest rates?

For instance, if the Bank of Canada signals that it will raise interest rates in the future while the Federal Reserve does not, then the CAD may appreciate relative to the USD even if the interest rate differential is currently in favor of the USD.