Analysis of recent loonie → ringgit forecasts for 2025. We collate forecasts from respected FX analysts together with the latest Canadian dollar to Malaysian ringgit performance and trends.
Forecasts for CAD to MYR
The exchange rate forecast for the Canadian dollar (CAD) against the Malaysian ringgit (MYR) suggests continued volatility influenced by several key factors. Recently, the CAD experienced a decline despite a rebound in oil prices. Analysts highlight that the CAD remains sensitive to oil market fluctuations, given Canada's significant role as an oil exporter. Currently, oil prices trade at $62.84 per barrel, which is 9.8% below their three-month average of $69.67, indicating a challenging backdrop for the CAD. The loonie has been trading at 3.0740 MYR, which represents a 1.3% drop from its three-month average of 3.1144 MYR.
The broader economic conditions are further complicated by trade tensions, particularly between the U.S. and Malaysia. The U.S. government has imposed a 24% tariff on Malaysian imports as part of the escalating trade conflict under former President Trump. This decision has added pressure on the MYR, with emerging currencies in Asia also facing a downturn. Reports suggest that overall risk appetite has weakened, causing currencies like the Thai baht and South Korean won to slide by approximately 2%.
Market experts emphasize that the CAD's trajectory will largely depend on oil market dynamics, shifts in Bank of Canada monetary policy, and developments in U.S.-Canada trade relations. The loonie tends to perform better when oil prices are stable or rising, as this supports the Canadian economy. Conversely, any downturn in oil prices could exacerbate the CAD's depreciation.
For the MYR, the outlook remains clouded by the ongoing trade issues and market volatility due to uncertainties surrounding global trade policies. The recent tariff announcements may hinder Malaysia's economic growth, prompting further caution among investors moving forward.
In summary, while the CAD could be affected positively by any recovery in oil prices, external factors such as trade tensions and overall global economic sentiment will play a crucial role in determining its value against the MYR. The forecast suggests a need for close monitoring of these elements as market conditions evolve.
Compare & Save - Canadian dollar to Malaysian ringgit
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Canadian dollar (CAD) to Malaysian ringgit (MYR) rates from different sources before making a conversion.
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Will the Canadian dollar rise against the Malaysian ringgit?
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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