Canadian dollar forecast and economic outlook

Version 0.57 (2024-10-03 12:42:53.182000)

updates: Forecast for Canadian dollar strengthening in 2025

➔
➔
➔

Version 0.56 (2024-08-30 15:45:54.275000)

updates: US dollar declines, Canadian dollar strengthens amid economic shifts

➔
➔

Version 0.55 (2024-08-15 20:10:48.680000)

updates: CAD retreats after weak domestic data

➔

Version 0.54 (2024-07-31 18:00:17.675000)

updates: The Canadian dollar gained against the US dollar as oil prices rose and GDP numbers exceeded expectations

➔

Version 0.53 (2024-07-26 20:01:31.568000)

updates: Canadian dollar extends losing streak as oil prices slide

➔

Version 0.52 (2024-07-24 10:09:03.685000)

updates: Canadian dollar extends losing streak as oil prices slide

➔
➔
➔

Version 0.51 (2024-07-16 17:55:17.300000)

updates: Market update and investment ideas from Morning Markets

➔
➔
➔

Version 0.5 (2024-07-09 15:59:54.417000)

updates: Integration of BNN Bloomberg article discussing the U.S. economy, declining profits, interest rate hikes, and market updates

➔
➔
➔

Version 0.49 (2024-04-30 12:52:45.160000)

updates: RBC analysts recommend Canadian sectors with U.S. dollar exposure

➔
➔

Version 0.48 (2024-04-26 23:53:16.005000)

updates: The Canadian dollar rises due to US Q1 earnings reports boosting risk sentiment

➔

Version 0.47 (2024-04-26 16:52:22.405000)

updates: The Canadian Dollar (CAD) is taking a back seat to broader market flows on Friday as investor focus remains pinned on decaying hopes for a rate cut from the Federal Reserve (Fed). US Personal Consumption Expenditure (PCE) Price Index figures came in above expectations on Friday, weighing further on rate trim expectations. Canada will not release meaningful data until next Tuesday’s Gross Domestic Product (GDP) print, but all eyes will be on the Fed’s upcoming rate call next Wednesday. Markets will also be gearing up for another Nonfarm Payrolls (NFP) next week as investors look further out for signs of a slowdown in the US economy that could spark rate cuts.

➔

Version 0.46 (2024-04-26 06:55:55.914000)

updates: Updates on crude prices, Canadian Retail Sales, and US PCE data

➔
➔

Version 0.45 (2024-04-25 23:54:06.343000)

updates: Updates on US GDP growth and inflation

➔

Version 0.44 (2024-04-25 21:53:59.115000)

updates: Inclusion of information about mixed US data and its impact on the Canadian dollar

➔
➔
➔

Version 0.43 (2024-04-25 19:55:53.232000)

updates: The US economy grew 1.6% in Q1 2024

➔
➔

Version 0.42 (2024-04-25 18:59:18.447000)

updates: US dollar weakens after worse-than-expected GDP report

➔
➔

Version 0.41 (2024-04-25 16:59:47.105000)

updates: Provides an update on the Canadian dollar's performance ahead of the US GDP report

➔

Version 0.4 (2024-04-25 14:05:45.973000)

updates: The Bank of Canada (BOC) holds rates, expects inflation to remain near 3% in H1CY24 and 2.5% in H2CY24. BOC Governor Macklem states latest data not sufficient for looser monetary policy. BOC minutes show split among governing council over rate cuts. BOC may reduce pace of quantitative tightening and close QT by H1CY25. Canadian economy dependent on US and Chinese markets, likely to follow Fed's policy actions. [3268797b]

➔
➔
➔

Version 0.39 (2024-04-25 09:52:56.711000)

updates: USD/CAD moves below 1.3700 due to risk-on mood, US GDP awaited

➔
➔

Version 0.38 (2024-04-25 08:56:39.184000)

updates: USD/CAD struggles to hold above 1.3600 as focus turns to US Q1 GDP

➔

Version 0.37 (2024-04-24 23:52:36.739000)

updates: USD/CAD rebounds above 1.3700, investors await US GDP data

➔

Version 0.36 (2024-04-23 02:18:44.017000)

updates: USD/CAD trading below 1.3700, Canadian Industrial Produce Prices dropped 0.8% MoM in March, waiting for US PMI data, US GDP, and US Core PCE data, decline in WTI prices, high-for-longer rate narrative in USD

➔

Version 0.35 (2024-04-22 17:19:15.265000)

updates: Updates on Canadian economic data and US PMI figures

➔
➔
➔

Version 0.34 (2024-04-10 18:20:02.187000)

updates: Inclusion of information about the positive US CPI data and its impact on the USD/CAD rally

➔
➔
➔

Version 0.33 (2024-04-03 15:18:54.037000)

updates: USD/CAD struggles to break above 1.36 amid converging interest rates and commodity rally

➔
➔

Version 0.32 (2024-04-02 22:22:03.482000)

updates: The article provides additional details on the resistance level and the factors contributing to the Canadian dollar's strength.

➔
➔

Version 0.31 (2024-04-02 10:26:40.236000)

updates: Updates on resistance level, bullish trend, crude oil prices, and business sentiment

➔

Version 0.3 (2024-04-02 10:25:20.718000)

updates: Updates on oil prices, Canadian manufacturing activity, US manufacturing data, and USD/CAD outlook

➔
➔
➔
➔
➔
➔
➔

Version 0.29 (2024-04-02 09:18:39.034000)

updates: Updates on the Pound to Canadian Dollar exchange rate

➔
➔
➔
➔
➔
➔

Version 0.28 (2024-04-02 08:19:36.424000)

updates: USD/CAD pair rallies against Canadian dollar, resistance at 1.36, crude oil's influence decreasing, Bank of Canada rate cuts likely, USD/CAD dynamics shifting, consolidation region, North America expected to perform better than Europe

➔
➔
➔
➔
➔

Version 0.27 (2024-03-26 09:20:36.843000)

updates: USD/CAD Forex Signal: US Dollar Pulls Back Against Its Northern Neighbor

➔
➔
➔
➔

Version 0.26 (2024-03-22 15:19:02.283000)

updates: Inclusion of information about the USD/CAD pair rising due to the US Dollar's strength and the Bank of Canada's expected interest rate reduction

➔
➔
➔

Version 0.25 (2024-03-22 10:20:41.372000)

updates: Inclusion of USD/CAD price analysis and US economic data

➔
➔

Version 0.24 (2024-03-21 17:22:23.933000)

updates: CAD recedes against Greenback as investors pare back Greenback selling

➔

Version 0.23 (2024-03-13 21:27:49.182000)

updates: Canadian dollar strengthens on higher oil prices and Bank of Canada's stance on interest rates

➔

Version 0.22 (2023-12-01 21:34:43.184000)

updates: New information on positive jobs data, weakness in USD, Enbridge approval

➔
➔

Version 0.21 (2023-11-28 18:36:25.509000)

updates: CAD gains due to higher crude oil prices and a weaker USD

➔

Version 0.2 (2023-11-23 21:09:14.441000)

updates: The Canadian dollar weakens as oil prices fall and wholesale trade declines

➔
➔
➔
➔

Version 0.19 (2023-11-23 09:24:34.043000)

updates: Pound Canadian Dollar exchange rate following UK Autumn Statement

➔
➔
➔

Version 0.18 (2023-11-23 06:09:07.716000)

updates: Canadian dollar weakens, economic indicators, challenges

➔
➔

Version 0.17 (2023-11-23 03:57:49.724000)

updates: USD/CAD pair trading lower due to decline in crude oil prices, decline in USD, Durable Goods Orders fell by 5.4%, University of Michigan Consumer Sentiment Index surpassed expectations, awaiting Retail Sales figures from Canada, AUD/USD recovery, USD/JPY recovery, gold price losing momentum, Binance fine, stagflationary economy

➔

Version 0.16 (2023-11-22 18:01:41.816000)

updates: Canadian dollar remains uncertain due to US outlook and interest rates

➔
➔
➔
➔

Version 0.15 (2023-11-19 09:16:59.494000)

updates: Added information on the US dollar decline and technical analysis of currency pairs

➔
➔
➔

Version 0.14 (2023-11-16 03:45:50.185000)

updates: The latest update includes information about the decline in US jobs figures and its impact on the US dollar, as well as the Canadian dollar's rally due to negative sentiment towards the greenback.

➔
➔
➔

Version 0.13 (2023-11-16 02:42:19.274000)

updates: Canadian dollar rallies on negative sentiment

➔
➔

Version 0.12 (2023-11-07 22:25:30.404000)

updates: Restructured and enhanced the narrative for improved clarity and impact

➔
➔

Version 0.11 (2023-11-06 17:29:07.574000)

updates: Combined two news stories about the US dollar and Canadian dollar

➔
➔

Version 0.1 (2023-11-03 18:31:31.573000)

updates: Restructured and streamlined the information

➔

Version 0.09 (2023-11-03 13:24:44.200000)

updates: The story has been updated with information about the US dollar falling after weaker-than-expected jobs data.

➔
➔
➔
➔
➔
➔
➔
➔
➔

Version 0.08 (2023-11-03 12:25:13.770000)

updates: Restructured and streamlined information to provide a comprehensive narrative

➔
➔
➔
➔
➔
➔
➔
➔

Version 0.07 (2023-11-03 08:24:08.022000)

updates: Restructured and streamlined information for enhanced reading

➔
➔
➔
➔
➔
➔
➔

Version 0.06 (2023-11-03 02:20:35.675000)

updates: Incorporated information about the dollar's decline and traders' belief that the Fed is done with rate hikes

➔
➔
➔
➔
➔
➔

Version 0.05 (2023-11-02 21:35:39.141000)

updates: Combined two news articles about yen weakening and US dollar tumbling

➔
➔
➔
➔
➔

Version 0.04 (2023-11-01 16:26:24.784000)

updates: The struggling yen rose from a one-year low against the U.S. dollar and a 15-year trough versus the euro on threats of intervention from Japanese authorities. The dollar was on the defensive overall against some major currencies after U.S. data showed an economy that is slowing down. The Institute for Supply Management (ISM) said its manufacturing PMI dropped to 46.7 last month from 49.0 in September. Private payrolls rose by 113,000 jobs last month after gaining 89,000 in September. Investors are now focused on the Fed rate decision later on Wednesday.

➔
➔
➔
➔

Version 0.03 (2023-11-01 12:39:15.616000)

updates: Restructured and streamlined information, eliminated repetitive points, maintained clear and objective perspective

➔
➔
➔
➔

Version 0.02 (2023-11-01 11:35:07.800000)