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    CAD to MXN 2024 Forecasts

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

     

    Forecasts for CAD to MXN

     

    According to recent currency market analyses, the Canadian dollar (CAD) has been facing downward pressure due to falling oil prices and a weakening US dollar. These factors have contributed to a lackluster performance for the CAD, with predictions from Wells Fargo & Co., Monex Europe Ltd., Royal Bank of Canada, and Bank of America Corp. indicating expectations for further weakness relative to the US dollar in the coming months. The Bank of Canada's dovish stance on interest rates and potential rate cuts have also weighed on the CAD's outlook, leading to forecasts of potential declines in its exchange rates against other major currencies like the Australian dollar.

    In contrast, the Mexican peso (MXN) has been enjoying a strong performance against major currencies, driven by factors such as high oil prices and expectations of consistent rate cuts from the Bank of Mexico (Banxico). The upcoming elections in Mexico are also anticipated to have an impact on the peso's performance. The MXN's close linkage to the oil market and its sensitivity to US interest rates, along with the resilience of cash remittances from the US and their positive influence on economic growth in Mexico, have been highlighted as key factors affecting the peso's value. Despite uncertainties in the global economy, the peso has shown resilience and remains a currency of interest for traders in the current market environment.

    Considering the stable trading range of the CAD to MXN exchange rate around 12.26, which stands just slightly below its 3-month average, and the volatility in oil prices with a recent dip to 83.44, insights from experts suggest that the Canadian dollar's outlook against the Mexican peso may be influenced by ongoing trends in oil markets and geopolitical events. As we monitor these developments, the CAD's performance is likely to be impacted by factors such as oil price movements and global economic conditions, while the MXN's strength could continue to be supported by its ties to the oil market and Banxico's monetary policy decisions. Traders and businesses engaged in CAD to MXN transactions should remain vigilant of these dynamics to make informed decisions and potentially capitalize on favorable exchange rate movements.

     
    @bestfxrates : 📉 With CAD under pressure from slipping oil prices & a dovish Bank of Canada, experts foresee further softness against USD. In contrast, MXN thrives on strong oil & Banxico's moves. Keep an eye on oil & geopolitics impacting CADMXN, currently near 3-mo avg. at 12.26. #Forex #CADMXN

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    CAD to MXN Market Data

    Canadian dollar (CAD) to Mexican peso (MXN) market data - latest interbank exchange rate, trend, chart & historic rates.

     
    1 CAD =
    12.20We compare provider deals to this wholesale mid-market rate. Read more
    MXN
    -0.5%
    1M
    CAD to MXN is at 30-day lows near 12.20, 1.4% below its 3-month average of 12.37, having traded in a quite stable 5.7% range from 12.01 to 12.69
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    Compare & Save - Canadian dollar to Mexican peso

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

    Use our CAD to MXN 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 Peso currency rates and the possible savings of using various providers.

     
    DateCAD/MXNChangePeriod
    03 May 2024
    12.42
    1.8% 2 Week
    17 Feb 2024
    12.64
    3.5% 3 Month
    18 May 2023
    13.13
    7.1% 1 Year
    19 May 2019
    14.24
    14.3% 5 Year
    20 May 2014
    11.85
    3% 10 Year
    22 May 2004
    8.4438
    44.5% 20 Year
    CAD/MXN historic rates & change to 17-May-2024
     

    Will the Canadian dollar rise against the Mexican peso?

    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/MXN to your personalised Rate Tracker to track and benefit from currency movements.

     
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    Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.

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

     
     

    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