Canadian Dollar Forecast

CAD tipped for a second year of outperformance in 2022.

GBP/CAD finding feet but struggling with 1.69 with support building near 1.67 as UK, CA data loom.

GBP/CAD looks to stabilise above 2021’s low near 1.6700, aided by cleaner pricing of BoE & full expectations for Bank of Canada policy. 

GBP/CAD supported on dips beneath 1.69s as CAD bulls & BoC rate bets face reckoning.

GBP/CAD steadying but recovery prospects limited by energy price rally.

Foreign exchange analysts at Canadian lender CIBC show rising headwinds to the Canadian Dollar over coming months, suggesting the best part of 2021's performance has now past.

RBC Capital Markets have anointed a recommendation to sell the Pound-to-Canadian Dollar exchange rate (GBP/CAD) as their "trade of the week".

GBP/CAD sees support around 1.75 & 1.7340 further down but may struggle to keep head above water this week.

The Pound and Euro are predicted to maintain a slight positive bias against the Canadian Dollar in the near-term by a noted currency analyst at one of Canada's main lenders.

GBP/CAD stabilised early in a holiday-shortened week but may struggle to sustain itself above the nearby 1.74 level over the coming days and would risk slipping back below 1.73 if either the U.S. Dollar or Canadian economic data spurs the Loonie on to a recovery.

The Pound-to-Canadian Dollar exchange rate entered the new week reduced from three-month highs but would risk a further correction as far as an important level of support near 1.73.

The Pound-to-Canadian Dollar rate had the wind in its sails and 1.74 in sight following a strong start to the new week but could now struggle to advance much beyond Monday's levels.

The Pound-to-Canadian Dollar rate entered the new week above 1.74 and with support at nearby levels but Sterling could struggle for momentum before Thursday’s GDP report reveals the extent to which the UK’s recovery met bullish market expectations last quarter.

The Pound-to-Canadian Dollar exchange rate has struggled to sustain momentum above 1.7350 but remains on its front foot and could be set to reclaim the top spot among G10 major currencies for 2021 this week with another attempt at recovering above the year’s breakeven level of 1.7380.

Economists at one of the largest lenders and financial services provider in North America have updated their forecasts for the Canadian Dollar, finding that the currency will gain over the Dollar but will likely be locked around the 1.70-1.72 range against the Pound for the foreseeable future.

The Pound-to-Canadian Dollar rate entered the new week with Sterling and the Loonie still vying with each other over the top spot among major currencies for 2021 but could potentially reach its highest since late April over the coming days if USD/CAD continues its correction higher.

The Canadian Dollar is tipped to trade consistently below a key level against the U.S. Dollar in the second half of 2021 as the Bank of Canada continues to offer a supportive impulse.

National Bank of Canada says further Canadian Dollar strength lies ahead and the currency is likely to take value off the Dollar, Euro and Pound over coming weeks as a result.

The Canadian Dollar was on its back foot Friday having ceded ground to the U.S. Dollar, Pound and a small majority of its other major rivals but forecasts from BofA Global Research suggest it has scope for one last huurah in the months ahead before fundamental forces demand an adjustment lower for the Loonie. 

The Bank of Canada Kept rates at 0.50% at its rate meeting today.