USD/CAD Forecast Poll
USD/CAD, THE “LOONIE”
The USD/CAD pair tells the trader how many Canadian dollars (the quote currency) are needed to purchase one U.S. dollar (the base currency). This currency pair is also known as the "Loonie", a nickname derived from the picture of a loon, a distinctive bird which appears on one side of the Canada's gold-colored, one Dollar coin.
ORGANIZATIONS, PEOPLE AND ECONOMIC DATA THAT INFLUENCE USD/CAD
In Canada, the organizations and people that affect the most the moves of the USD/CAD pair are:
- The Bank of Canada that issues statements and decides on the interest rates of the country.
- Canadian Government and its Department of Finance that implement policies that affect the economy of the country.
In the USA, we have:
- The US Government: events as administration statements, new laws and regulations or fiscal policy can increase or decrease the value of the US Dollar.
- Fed, the Federal Reserve of the United States. The Fed controls the monetary policy, through active duties such as managing interest rates.
- Currencies: This group also includes the following currency pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF, NZD/USD, EUR/GBP and USD/CHF
USD/CAD FORECAST FOR 2017
In our annual forecast, our surveyed contributors expect the USD/CAD to reach the price of 1,4000 by the end of the year 2017. See full forecast
In terms of political events that can affect the pair this year, we have of course the Trump Presidency: tax cuts and government spendings strategy, geopolitics and international relations of the US, including decisions related to trade deals and multinational alliances. In Canada, we can highlight the New Democratic Party leadership election in October 2017 and the Conservative Party of Canada leadership election in May 2017.
Some extra quotes about forecast in this page:
Trade issues around possible NAFTA renegotiation and a strengthening US economy will be key. Question marks over real OPEC cuts will linger
The Canadian dollar could be the big loser of 2017 due to oil prices remaining low, a slow transition to other sectors and not enough US demand for Canadian goods