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    USD to CAD 2024 Forecasts

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

     

    Forecasts for USD to CAD

     

    Recent forecasts and market updates suggest a mixed outlook for the USD to CAD exchange rate. The US dollar (USD) has shown strength amidst global trading uncertainty, benefiting from its safe-haven status despite limited fresh data and lower Treasury bond yields. In contrast, the Canadian dollar (CAD) has exhibited a lack of direction due to the absence of significant economic indicators, with its movements closely tied to fluctuating oil prices and a rising US dollar.

    Looking ahead, the Bank of Canada's upcoming interest rate decision may play a crucial role in shaping the CAD's performance. Speculation of a potential rate cut could lead to a decline in the CAD. Additionally, the USD to CAD exchange rate has recently hit 90-day highs near 1.3785, indicating a slight appreciation of the USD against the CAD. On the other hand, the OIL to USD price data shows oil prices trading below their 3-month average, which could impact the CAD, being a major oil exporter. Overall, while the USD appears poised for further strength, the CAD's performance is likely to hinge on upcoming economic developments and oil price movements.

     
    @bestfxrates : FX analysts eye USDCAD as it nears 90-day peak of 1.3785 due to USD's safe-haven allure & soft Treasury yields. CAD awaits BoC rate decision, with oil price slip hinting at volatility ahead. Market views mixed; economic indicators and oil to drive CAD's direction. #USDCAD #Forex #BoC

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    USD to CAD Market Data

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

     
    1 USD =
    1.3819We compare provider deals to this wholesale mid-market rate. Read more
    CAD
    +0.1%
    3M
    USD to CAD is at 90-day highs near 1.3808, just 0.9% above its 3-month average of 1.3687, having traded in a stable 1.5% range from 1.3603 to 1.3808
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    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.

     
    DateUSD/CADChangePeriod
    10 Jul 2024
    1.3619
    1.4% 2 Week
    25 Apr 2024
    1.3660
    1.1% 3 Month
    25 Jul 2023
    1.3188
    4.7% 1 Year
    26 Jul 2019
    1.3178
    4.8% 5 Year
    27 Jul 2014
    1.0813
    27.7% 10 Year
    29 Jul 2004
    1.3287
    3.9% 20 Year
    USD/CAD historic rates & change to 24-Jul-2024
     

    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 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 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