USD/CAD (CAD=X)
| Previous close | 1.3315 |
| Open | 1.3313 |
| Bid | 1.3399 |
| Day's range | 1.3307 - 1.3411 |
| 52-week range | 1.2401 - 1.3970 |
| Ask | 1.3400 |
- FX Empire
Federal Reserve and NFP – A Busy Week Ahead for Traders
It’s all happening for investors and traders this week, with a plethora of significant news releases out around the world.
- Reuters
Canadian dollar to rebound in 2023 if economic uncertainty clears: Reuters poll
Canada's dollar will rally this year, but much of the upswing will have to wait until a period of uncertainty passes for the domestic and global economies following aggressive tightening by central banks in 2022, a Reuters poll forecast. The loonie will edge 0.6% higher to 1.35 per U.S. dollar, or 74.07 U.S. cents, in three months, according to the median forecast of currency analysts. "We expect to see some mild CAD weakness in the first half of 2023 ... as last year's rate hikes work their way through the economy and lead to a mild recession," said George Davis, chief technical strategist at RBC Capital Markets.
- Reuters
Canadian dollar seen higher as analysts eye peak interest rates: Reuters poll
Canada's dollar will rally over the coming year as major commodity consumer China loosens its COVID-19 restrictions and the Federal Reserve potentially concludes its campaign to increase interest rates, a Reuters poll showed. The loonie has weakened over 7% against the U.S. dollar since the start of 2022, with almost all of the decline coming since mid-August. According to the median forecast of 35 currency analysts surveyed Dec. 1-6 the currency will rebound 1.1% to 1.35 per U.S. dollar, or 74.07 U.S. cents, in three months, compared with November's forecast of 1.36.
