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    CAD to EUR 2024 Forecasts

    Analysis of recent loonie→Euro forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Canadian dollar to Euro performance and trends.


    Forecasts for CAD to EUR

    CADEUR chart
    14-DAY HIGH
    4-DAY +1.6%

    The Canadian Dollar's (CAD) trajectory against the Euro (EUR) has been informed by a variety of forecasts and broader market conditions. According to CIBC Capital Markets, there are expectations of the US dollar's strength against the Canadian dollar in 2024, with a revised year-end USD/CAD forecast of 1.31, which could imply a more challenging environment for CAD relative to EUR if the USD strengthens broadly. However, CIBC has expressed optimism for the Canadian Dollar in the subsequent year, anticipating potential USD softness which may work in the CAD's favor. On the other hand, Scotiabank analysts contend that the CAD, while not meeting its Q3 2023 forecasts against the USD, seems undervalued based on core economic factors and suggest that a Bank of Canada rate increase, presently underestimated by the market, could see an adjustment in the CAD value, possibly hinting at future strength against the Euro.

    The Euro has its own set of forecasts that will inevitably affect the CAD to EUR exchange rate. Analyst projections show a cautiously optimistic view on the EUR with JP Morgan and ING envisaging a climb to 1.10 and 1.15 against the USD, respectively. A critical factor for the EUR's strength will be the difference in monetary policy adjustments by the Federal Reserve and the European Central Bank. The ECB's measures, in response to economic indicators and rate plans that previously pushed the euro below parity with USD, will be significant for the EUR's valuation. The eurozone's economic performance, informed by lagging consumer confidence as indicated by HSBC, could presage a weaker Euro, potentially benefitting the CAD/EUR exchange rate.

    Regarding recent price movements, CAD to EUR has hit 14-day highs near 0.6802, flirting with its 3-month average, although moving within a relatively stable range. As Canada is a major oil exporter, CAD's value is also tied to fluctuations in oil prices. With OIL to USD currently at 82.83, lower than its 3-month average of 87.48, and experiencing considerable volatility, this could introduce additional pressures on the CAD. However, the currency market will continue to monitor these prices keenly, as any significant rebound in oil markets might provide the Canadian Dollar with relative support against the Euro.

    @bestfxrates : CAD/EUR update: CIBC sees USD headwinds for CAD in '24 but '25 optimism could bolster it. Scotiabank believes CAD is undervalued, BoC moves could lift it. Euro's fate tied to ECB vs Fed actions. CAD at 14-day highs (0.6802), oil volatility a wild card. Eyes on ECB & oil for CAD/EUR shifts. #CurrencyMarkets #FXUpdate

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    CAD to EUR Market Data

    Canadian dollar (CAD) to Euro (EUR) market data - latest interbank mid-rate, trend, chart & historic rates.

    1 CAD =
    0.6801We compare provider deals to this wholesale mid-market rate. Read more
    CAD to EUR is at 14-day highs near 0.6809, just 0.5% below its 3-month average of 0.6843, having traded in a quite stable 5.9% range from 0.6659 to 0.7053
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      1 EUR = 1.4703 CAD
    14-DAY HIGH
    4-DAY +1.6%

    Compare & Save - Canadian dollar to Euro

    Exchange rates can vary significantly between different currency exchange providers, so it's important to compare Canadian dollar (CAD) to Euro (EUR) rates from different sources before making a conversion.

    Use our CAD to EUR calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on loonie to Euro currency rates and the possible savings of using various providers.

    16 Nov 2023
    1.1% 2 Week
    01 Sep 2023
    0.8% 3 Month
    30 Nov 2022
    5.3% 1 Year
    01 Dec 2018
    2% 5 Year
    02 Dec 2013
    2.5% 10 Year
    05 Dec 2003
    7.4% 20 Year
    CAD/EUR historic rates & change to 30-Nov-2023

    Will the Canadian dollar rise against the Euro?

    It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

    To help with this you can add CAD/EUR to your personalised BER Smart Rate Tracker to track and benefit from currency movements.

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    Read our Currency guide to the Eurozone - a practical currency and money guide to travel, living and doing business in the Eurozone with the Euro.


    Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more