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    USD to CAD Forecasts

    Analysis of recent dollar→loonie forecasts. We collate forecasts from respected FX analysts together with the latest USD to CAD performance and trends.


    Forecasts for USD to CAD

    USDCAD chart

    According to recent exchange rate forecasts, the outlook for the USD to CAD exchange rate suggests a potential reversal in the US dollar's strength in 2023. Economists expect this to occur as the Federal Reserve's interest rate hikes cycle comes to an end. Currently, the USD to CAD exchange rate sits at 1.3468, just above its 3-month average, indicating relative stability within a 4.4% range.

    The struggles of the Canadian dollar against the US dollar are attributed to the risk-on and risk-off environments in financial markets rather than the fundamentals of the US and Canada. Both economies are strongly correlated. Additionally, factors such as continued declines in housing prices and adverse wealth effects could exert negative pressure on the Canadian dollar in 2023.

    It is worth noting that the Canadian market heavily relies on the US as its largest oil consumer, with the US consuming 20 million barrels per day compared to its own production of around 12 million barrels. Any significant trends in the Brent Crude OIL/USD price data, such as the recent 11.7% increase above its 3-month average, could impact the Canadian dollar due to its status as a major oil exporter.

    Overall, the market view suggests a potential reversal in the USD to CAD exchange rate's current stability in 2023, as the US dollar's strength is expected to abate following the conclusion of the Federal Reserve's interest rate hikes cycle. However, external factors such as oil price movements and their impact on the Canadian economy should also be closely monitored.

    Compare & Save - US dollar to Canadian dollar

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

    Use our USD to CAD 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 dollar to loonie currency rates and the possible savings of using various providers.

    @bestfxrates : FX call: USD/CAD at 1.3468, above its 3-month average. A potential 2023 reversal with the end of Fed's interest rate hikes, could shake up stability. Economists advise monitoring the oil market, as trends can heavily influence the CAD. Keep an eye on housing prices as well. #USDCAD

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    USD to CAD Market Data

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

    1 USD =
    1.3591We compare provider deals to this wholesale mid-market rate. Read more
    USD to CAD is at 14-day highs near 1.3586, 1.3% above its 3-month average of 1.3417, having traded in a quite stable 4.4% range from 1.3112 to 1.3686
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    15 Sep 2023
    0.4% 2 Week
    01 Jul 2023
    2.6% 3 Month
    29 Sep 2022
    0.6% 1 Year
    30 Sep 2018
    5.9% 5 Year
    01 Oct 2013
    31.7% 10 Year
    04 Oct 2003
    1.3% 20 Year
    USD/CAD historic rates & change to 29-Sep-2023

    Will the US dollar rise against the Canadian dollar?

    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 USD/CAD to your personalised BER Smart Rate Tracker to track and benefit from currency movements.

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    Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP DOWN HIGH LOW alerts over a range of periods over the recent 90 days.

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


    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