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.

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 influences the GBP/CAD rate?

The GBP/CAD rate is heavily influenced by the performance of the US Dollar and the Euro and related economic and political events. Follow the GBP/CAD chart and our GBP/CAD forecasts for the latest on the Pound-Canadian Dollar price movements. Our expert news and analysis articles will further help you plan your trades.

What is the Canadian dollar forecast for 2030?

Wallet Investor did not give a Canadian dollar forecast for 2030. 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.