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USD/CAD Forecast


USD/CAD weakens further below 1.2800 mark
USD/CAD weakens further below 1.2800 mark

USD/CAD prolonged its recent bearish trend and dropped to a fresh two-week low on Friday. The tight supply outlook acted as a tailwind for crude oil prices, which underpinned the loonie...

20 May 2022OctaFX

USD/CAD to reach 1.31 before retracing towards 1.27 by year-end
USD/CAD to reach 1.31 before retracing towards 1.27 by year-end

The slide in CAD in recent weeks reflects a broadly stronger greenback. Economists at CIBC Capital Markets think the loonie will follow broad USD sentiment and is likely...

13 May 2022FXCM

USD/CAD eases from YTD peak, holds above 1.2900
USD/CAD eases from YTD peak, holds above 1.2900

USD/CAD gained traction for the third straight day and climbed to a fresh YTD high on Monday. Sliding crude oil prices undermined the loonie and extended support amid sustained USD buying...

9 May 2022OctaFX

USD/CAD holds steady near multi-week top, above 1.2800 ahead of US Q1 GDP
USD/CAD holds steady near multi-week top, above 1.2800 ahead of US Q1 GDP

USD/CAD held steady near the multi-week high amid sustained USD buying. The prospects for rapid Fed rate hikes continued underpinning the greenback...

28 Apr 2022OctaFX

USDCAD setting up a new push higher?
USDCAD setting up a new push higher?

This week so far has definitely been about the USD. Price has seen solid gains so far, with the index adding 0.98% and hitting a new weekly high of 99.65...

12 Apr 2022Eightcap

USD/CAD to edge higher as scope for BoC dovish disappointment is evident
USD/CAD to edge higher as scope for BoC dovish disappointment is evident

Economists at HSBC expect USD/CAD to push higher given a lot of hawkishness is already in the price. Rates rather than riks is likely to remain dominant for the loonie...

24 Mar 2022OctaFX

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USD/CAD consolidates above mid-1.2700s
USD/CAD consolidates above mid-1.2700s

USD/CAD struggled to gain any meaningful traction on Friday and remained confined in a range. The USD gained traction for the second successive...

11 Mar 2022FXCM

USDCAD H4: Bulls are on the march
USDCAD H4: Bulls are on the march

The Loonie on the H4 time frame was in a bearish trend until 3 March when a lower bottom was reached at 1.25861. Bulls found the price attractive...

8 Mar 2022FXTM

USD/CAD bears eye 1.2700 on firmer oil, upbeat sentiment
USD/CAD bears eye 1.2700 on firmer oil, upbeat sentiment

USD/CAD remains pressured around weekly low, on the back foot for the third consecutive day. DXY tracks yields to pare recent gains as market sentiment improves...

16 Feb 2022FXCM

USD/CAD hangs near daily low, downside seems cushioned amid retreating oil prices
USD/CAD hangs near daily low, downside seems cushioned amid retreating oil prices

USD/CAD witnessed some selling on Tuesday amid modest USD weakness. Retreating oil prices could undermine the loonie and extend some support. Rallying US bond...

15 Feb 2022OctaFX

USD/CAD to sink towards the 1.20 level by year-end
USD/CAD to sink towards the 1.20 level by year-end

Economists at Scotiabank continue to see merits in the longer-run outlook for the Canadian dollar. They expect the USD/CAD to tank towards the 1.20 level...

28 Jan 2022OctaFX

USD/CAD remains depressed below 1.2500 amid bullish oil prices
USD/CAD remains depressed below 1.2500 amid bullish oil prices

A combination of factors prompted fresh selling around USD/CAD on Thursday. Bullish oil prices, strong Canadian CPI print continued underpinning the loonie...

21 Jan 2022FXCM

A rate hike by the boc might not lead to lasting loonie strength
A rate hike by the boc might not lead to lasting loonie strength

Economists at Credit Suisse preview next week’s Bank of Canada (BoC) rate decision, where risks of a hike have increased. However, they still stick to their 1.25 target for the USD/CAD...

19 Jan 2022OctaFX

USD/CAD holds comfortably above 1.2800 amid stronger USD
USD/CAD holds comfortably above 1.2800 amid stronger USD

USD/CAD added to the overnight recovery gains and edged higher for the second straight day. Worries about surging COVID-19 cases benefitted the safe-haven USD and extended...

30 Dec 2021FXCM

USD/CAD prints a fresh low in the bearish correction as Covid variant risk abates
USD/CAD prints a fresh low in the bearish correction as Covid variant risk abates

USD/CAD falls to fresh daily lows on the positive sentiment in markets. The covid-19 variants are now hoped to be less severe than first anticipated. The commodity...

24 Dec 2021OctaFX

Bulls brace for bumpy road to 1.3000
Bulls brace for bumpy road to 1.3000

USD/CAD picks up bids to extend Friday’s gain around monthly top. RSI conditions can challenge bulls around upper line of short-term rising wedge. 61.8% FE...

20 Dec 2021OctaFX

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USD/CAD inches back closer to 1.2700 mark
USD/CAD inches back closer to 1.2700 mark

The USD/CAD pair continued scaling higher through the first half of the European session and climbed to a two-day high, around the 1.2685 region in the last hour...

9 Dec 2021FXCM

USD/CAD remains on the defensive below mid-1.2700s
USD/CAD remains on the defensive below mid-1.2700s

The USD/CAD pair traded with a negative bias through the first half of the European session, albeit lacked any follow-through selling and remained confined in a range...

29 Nov 2021FXCM

USDCAD Daily: The bulls are gathering momentum
USDCAD Daily: The bulls are gathering momentum

The USDCAD market on the Daily time frame had a short but powerful down trend until a last lower bottom was reached on 21 October at 1.22878. After the lower bottom...

8 Nov 2021FXTM

USD/CAD hangs near multi-month lows, around mid-1.2300s ahead of Canadian CPI
USD/CAD hangs near multi-month lows, around mid-1.2300s ahead of Canadian CPI

USD/CAD lacked any firm directional bias and remained confined in a range on Wednesday. Rallying US bond yields revived the USD demand and extended some...

20 Oct 2021FXCM

Struggles near descending channel support, around mid-1.2400s
Struggles near descending channel support, around mid-1.2400s

USD/CAD dropped to two-month lows and was pressured by a combination of factors. Slightly oversold RSI (14) on the 4-hour chart held trades from placing aggressive bets...

11 Oct 2021OctaFX

USD/CAD struggles near weekly lows, just above mid-1.2600s
USD/CAD struggles near weekly lows, just above mid-1.2600s

The intraday USD selling picked up during the early European session and dragged the USD/CAD pair to fresh weekly lows, around mid-1.2600s in the last hour...

23 Sep 2021FXCM

USDCAD Analysis
USDCAD Analysis

The USDCAD has had an influx of economical events affecting the exchange rate from both sides of the border. Over the past three weeks the asset has seen more bearish...

15 Sep 2021Axiance

USD/CAD drops back below 1.2700 amid a rally in WTI
USD/CAD drops back below 1.2700 amid a rally in WTI

USD/CAD snaps two-day uptrend as WTI rallies on geopolitical risks. US dollar eases ahead of Fed Chair Jerome Powell's speech. Downside opens up below 50-SMA...

27 Aug 2021OctaFX

Remains poised to test 100-DMA, focus on US/Canadian data
Remains poised to test 100-DMA, focus on US/Canadian data

USD/CAD is extending the recent downtrend into the third straight day on Friday, hitting the lowest levels in three weeks near 1.2430, as the selling pressure...

30 Jul 2021FXCM

USD/CAD: Break above 1.2514 to turn the risk to the upside
USD/CAD: Break above 1.2514 to turn the risk to the upside

USD/CAD surged higher on Tuesday, in line with the tactical bullish view of the Credit Suisse analyst team. A move above 1.2495/2514 is now needed...

7 Jul 2021OctaFX

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USD/CAD to trend higher over the next month towards the 1.2639
USD/CAD to trend higher over the next month towards the 1.2639

USD/CAD stays biased higher over at least the next month in the view of the Credit Suisse analyst team. Next resistance is seen at 1.2514, then the more important...

21 Jun 2021FXCM

USD/CAD spikes to 1.2170 area, back closer to one-month tops
USD/CAD spikes to 1.2170 area, back closer to one-month tops

The USD/CAD pair rallied over 40 pips from the early European session lows and climbed to fresh daily tops, around the 1.2170 region in the last hour. Expectations...

15 Jun 2021FXCM

USDCAD moves sideways above 6-year low
USDCAD moves sideways above 6-year low

USDCAD extended its one-month trading range above the more-than-six-year low of 1.2006, increasing speculation that the bears are losing steam and the bulls...

8 Jun 2021XM

Corrective pullback targets 1.2110 resistance confluence
Corrective pullback targets 1.2110 resistance confluence

USD/CAD takes bids around 1.2080, up 0.08% intraday, during early Monday. In doing so, the Loonie pair rises for the second consecutive day as MACD teases bulls...

24 May 2021FXCM


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