CAD to EUR Forecasts
Forecasts and predictions for the CAD/EUR exchange rate are driven by the effect of the Ukraine crisis on energy prices.
Updated: Jan 11, 2023 
BER Research
BER Research Forecasts and predictions for the CAD/EUR exchange rate are driven by the effect of the Ukraine crisis on energy prices.
BER Research In the final quarter of the year CAD/EUR is trading around the 0.74-0.76 level, this a few percent down from the start of the year.
The effect of Ukraine crisis on energy prices hurts the euro and helps the gas and oil exporting Canadian dollar.
| Date | CAD/EUR | Change | Period |
|---|---|---|---|
17 Jan 2023 | 0.6920 | 0.1% ▼ | 2 Week |
02 Nov 2022 | 0.7429 | 6.9% ▼ | 3 Month |
31 Jan 2022 | 0.7002 | 1.3% ▼ | 1 Year |
01 Feb 2018 | 0.6520 | 6% ▲ | 5 Year |
02 Feb 2013 | 0.7360 | 6.1% ▼ | 10 Year |
05 Feb 2003 | 0.6079 | 13.7% ▲ | 20 Year |
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Since the start of the Russia/Ukrainian war the risk on-off markets had been pushing the Canadian dollar rate up and down in a range around 0.7850 to the US dollar.
However from mid-September the loonie has weakened down from this range to around 0.73 relative to the greenback.
The euro has recovered since falling below the US dollar exchange rate in September, aided by lower energy prices, reduced recession fears, and a more aggressive European Central Bank. The euro has risen 13% over the past 3.5 months, aided by a weaker US dollar.
Note that forecasts and predictions for the CAD/EUR exchange rate change all the time, affected by news events and relative sentiment towards the Canadian and Eurozone economies and this exchange rate is even more volatile than usual because of the uncertainties around the Coronavirus pandemic.
You can read more about EUR cross-rate forecasts here EUR Trends and Forecasts for 2021.
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.