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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 indicate a strong trajectory for the US dollar (USD) against the Canadian dollar (CAD), largely fueled by robust inflation data and geopolitical uncertainties. The USD soared following unexpectedly high headline and core inflation figures, prompting market analysts to reassess Federal Reserve interest rate expectations. This upward momentum may be further supported by upcoming US producer price inflation data, which could hint at sustained inflationary pressures. Economists noted that the political landscape, particularly influenced by Donald Trump’s pro-business policies, continues to bolster the USD, despite his rhetoric surrounding a weaker dollar. Notably, financial institutions like JPMorgan, Goldman Sachs, and Citi expect additional strength in the greenback amidst cautious market sentiment.

    On the flip side, the CAD faces headwinds primarily due to tariff concerns stemming from the new Trump administration, which could impose significant trade barriers affecting Canadian exports. With oil prices down and the Canadian economy heavily reliant on commodity exports, the CAD is particularly vulnerable to fluctuations in crude prices. Currently trading at 1.4180 against the USD, the CAD has remained relatively stable, hovering close to its 3-month average but distinctly influenced by oil market dynamics—recently at 74.64, just below the 3-month average of 75.24, amidst a notable volatility range. FX analysts warn that ongoing tariff rhetoric and lower oil prices pose risks to the CAD's performance, especially as investor sentiment leans towards USD strength and the positive effects for risk assets in the market.

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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.

     
    Sell USD   →   Buy CAD
    1 USD =
    1.4180We compare provider deals to this wholesale mid-market rate. Read more
    CAD
    -0.1% since yesterday
    60d-lows
    USD to CAD at 1.4180 is just 0.7% below its 3-month average of 1.4278, having traded in a quite stable 5.3% range from 1.3959 to 1.4703
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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
    31 Jan 2025
    1.4543
    2.5% 2 Week
    16 Nov 2024
    1.4102
    0.6% 3 Month
    15 Feb 2024
    1.3466
    5.3% 1 Year
    16 Feb 2020
    1.3246
    7.1% 5 Year
    17 Feb 2015
    1.2401
    14.4% 10 Year
    19 Feb 2005
    1.2313
    15.2% 20 Year
    USD/CAD historic rates & change to 14-Feb-2025
     

    Compare Rates

    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.

    Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending

     

    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