Canadian Dollar Predicted to Record Notable Growth in Coming Months: Reuters Poll

Azeez Mustapha


Unlock Daily Forex Signals

Select a Plan


1 - month



3 - month



6 - month






Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

According to a Reuters poll, the Canadian dollar (CAD) will grow over the course of the next year as key commodities user China relaxes COVID-19 restrictions and the Federal Reserve may have finished its interest rate hike campaign.

Since the beginning of 2022, the loonie has lost nearly 7% of its value against the US dollar (USD), almost all of which has occurred since mid-August.

The currency would strengthen by 1.1% to 1.35 per US dollar, or 74.07 US cents, in three months, according to the consensus prediction of 35 currency analysts polled from December 1 to 6. This is down from November’s expectation of 1.36.

Commenting on the latest development, Abbey Omodunbi, a senior economist at The PNC Financial Services Group, said:

“Our forecast for a weaker [US] dollar in 2023 against major currencies, as the Fed switches gears and telegraphs an end to its tightening cycle, and a better growth outlook in Canada should bolster the Canadian dollar.”

The third quarter saw annualized economic growth in Canada of 2.9%, which was significantly higher than both analysts’ and the Bank of Canada’s expectations.

USD/CAD Prepares for a New Rally and Will Sustain Its Four Days in a Row Winning

In an effort to reduce inflation, the BoC has increased its benchmark interest rate by 350 basis points since March, bringing it to 3.75%, its highest level since 2008.

When the bank meets to set policy on Wednesday, the financial markets anticipate at least another quarter-percentage-point of tightening.

Canadian Dollar to Be Bolstered by Oil

Oil is one of the main commodities that Canada exports. Although they have decreased from this year’s peak levels, China’s efforts to loosen pandemic restrictions may boost the prospects for demand.

Purchasing power parity (PPP), or the exchange rate that equalizes the purchasing power of several currencies, is one indicator of fair value. The PPP of the USD-CAD is estimated by the IMF to be 1.25, which is over 8% higher than its present value.


You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *