What is the USD/CAD forecast for 2022?

For its USD/CAD forecast for 2022, TD Economicsestimated the currency pair to trade at 1.27 in the third quarter of this year, dropping 1.24 per dollar in the fourth quarter. USD/CAD was expected to rise to 1.26 in the first quarter 2023, 1.28 in the second quarter, and 1.30 in the third quarter before dropping slightly to 1.29 per dollar.

What is tradingeconomics forecast for CAD & CAD?

TradingEconomics expected the CAD to be priced against the USD at 1.29 by the end of this quarter, and looking ahead, the USD/CAD forecast will rise to 1.34 in 12 months. In addition to the USD/CAD forecast, the data provider gave price targets for EUR/CAD, GBP/CAD, and AUD/CAD.

How did the CAD perform in 2021?

The CAD briefly strengthened against the USD in October at 1.23 per US dollar, before gradually spiking to hit 1.29 per dollar in December. In the second half of 2021, the US Fed had indicated that it will start scaling back asset purchases and hiking interest rates. The Fed’s hawkish tone had boosted the greenback.

How to forecast EUR/CAD price performance?

Technical analysis is of paramount importance in forecasting the EUR/CAD price performance both for the long and short term. TU experts use various methods of technical analysis (patterns, indicators, support and resistance levels, etc.) for making the forecast. The EUR/CAD is considered a minor currency pair.