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    Canadian dollar CAD Forecasts for 2022

    Forecasts for the Canadian dollar change all the time, affected by news events and relative sentiment towards the Canadian economy.

    Updated: Oct 06, 2022  

     

    1 CAD = 0.7430 USD
    Sell CAD  →  Buy USD
    CAD to USD at 0.7433 is near its 90-day average 0.7423 with range 0.7203-0.7701.
    |
      1 USD = 1.3459 CAD
     
    CADUSD :
    14-DAYLOW

    Canadian dollar Outlook

    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.

    DateCAD/USDChangePeriod
    14 Nov 2022
    0.7505
    1.3% 2 Week
    30 Aug 2022
    0.7639
    3% 3 Month
    28 Nov 2021
    0.7858
    5.7% 1 Year
    29 Nov 2017
    0.7773
    4.7% 5 Year
    30 Nov 2012
    1.0067
    26.4% 10 Year
    03 Dec 2002
    0.6421
    15.4% 20 Year
    CAD/USD historic rates & change to 28-Nov-2022

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    CAD Market Trends and Predictions

    Volatile oil and gas prices due to the Russian invasion of Ukraine have lead analysts to predict large price movements to continue for the Canadian Dollar.

    Before Russia invaded Ukraine the CAD was being supported by expectations of domestic interest rate hikes – and the oil price was a key driver of CAD strength at the start of the year.

    Last year, 2021 the second year of COVID, Canadian dollar forecasts were almost entirely driven by the effects and response to the Coronavirus pandemic rather than any fundamentals of the Canadian economy.

    However as we progress through 2022, the Canadian dollar is being buffeted by predictions of rising interest rates, inflation and the oil price as the world starts the slow path to recovery from the pandemic.

    CAD exchange rates have gained amid Canada’s improved economic outlook and recovering oil prices. Early success in controlling COVID-19 has helped the Canadian economy to rebound as massive government aid boosted consumer spending and low interest rates have fuelled a surge in the housing market.

    Supporting the loonie has been a rise in the oil price (oil is among Canada’s most exported products but is volatile and can’t be relied upon), a large and welcome jump in inflation, and dovishness at major central banks of the world, including the Federal Reserve, ECB and RBA.

    The following sections show a summary of bank forecasts for popular GBP cross rates that we have reviewed, you can view each forecast article for more details.

    CAD to USD

    CAD to USD 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsCAD to USD at 0.7433 is near its 90-day average 0.7423 with range 0.7203-0.7701. CAD/USD Rates

    In October the loonie remains weaker, down from recent highs of 0.78 in August to around 0.73 relative to the greenback (1 USD = 1.37 CAD).

    USD-CAD Forecasts

    CAD to GBP

    CAD to GBP 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsCAD to GBP at 0.6188 is 4.5% below its 90-day average 0.6478 with range 0.6174-0.6816. CAD/GBP Rates

    The Ukrainian crisis and risks for an energy crisis in Europe has pushed the Pound down against the Canadian, New Zealand and Australian Dollars. These currencies that normally are vulnerable to ‘risk off’ events, showing the impact of the gas crisis in the UK.

    CAD-GBP Forecasts

    CAD to EUR

    CAD to EUR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsCAD to EUR at 0.7159 is 3.7% below its 90-day average 0.7432 with range 0.7159-0.7677. CAD/EUR Rates

    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.

    CAD-EUR Forecasts

    CAD to INR

    CAD to INR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsCAD to INR at 60.72 is just 0.6% above its 90-day average 60.37 with range 59.03-61.24. CAD/INR Rates

    The Ukrainian crisis and the impact on energy prices have pushed the Canadian dollar up & down this year against the Rupee.

    CAD-INR Forecasts

     

    More Forecasts

     
     
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    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.