September 12, 2017 - Yes, there are a lot of moving parts here, which underscores the difficulty in making currency predictions. Nonetheless, RBC expects the Canadian dollar will slip below 81 cents against the U.S.

The U.S. Dollar to Canadian Dollar exchange rate is now forecast to rise to 1.37 by the end of June, 1.3850 by the end of September and 1.40 by year-end. It is tipped to peak at 1.42 by mid-year 2025.

Broad United States Dollar (3) 127.0 · 128.1 · 125.1 · 121.1 · 118.3 · - 1) PPP data from OECD, based in Local Currency per USD · 2) Current Account Balance data from IMF, as a % of GDP (2020 & 2021 IMF estimates) 3) Federal Reserve Broad Index (26 currencies) Canadian Dollar Cross Currencies ...

USD selloff (downside risk; see here). ... Aussie. However, this support has been partially offset by · broader dollar strength and risk-off sentiment stemming

May 12, 2021 - RBC senior economist Josh Nye agrees that to see any reversal in the loonie’s recent strength “the Fed will have to catch up to the BoC’s hawkishness.” RBC sees the Canadian dollar sinking to 78 U.S.

1 month ago - The Canadian dollar forecast points to stability, with oil and risk appetite helping CAD hold firm as divergent BoC–Fed expectations shape USD/CAD movement.

September 13, 2024 - Royal Bank of Canada has downgraded its forecasts for USD/CAD as it sees a more resilient performance from the Canadian Dollar in the coming months. This will also be reflected in gains made against the Pound; however, it is expected to lose ground against the Euro in H1 2025. RBC now predicts the U.S.

April 25, 2025 - That’s because the Bank of Canada is expected to continue cutting interest rates—three more times this year according to forecasts from RBC Economics — while the American Fed is not, furthering the gap between the two economies. “We do see a little bit more Canadian dollar weakness going through to the middle of the year, and that’s predicated by a continuation of this widening in interest rate differentials,” Davis says.

The loonie has gained over the past month as officials after the U.S. Federal Reserve signalled a rate cut coming at the end of July. One currency strategist at Societe Generale says the the move higher in the loonie has more room to run. Amber Kanwar and Jon Erlichman discuss.

As the second most traded global ... the U.S. dollar. The fate of Europe’s single currency also depends on whether we see continued improvement in the regional economy and reforms that set the stage for sustained economic gains. We are encouraged by recent economic data on business sentiment (Exhibit 15) and bank lending. Note: As at August 29, 2025. Source: S&P Global, RBC ...

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December 1, 2023 - With the USD/CAD exchange rate currently sitting around 1.35, RBC’s forecasts suggest some near-term weakening of the Canadian dollar, with the U.S. dollar forecasted to end this year at 1.38 and head up to 1.39 by mid-2024.

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June 20, 2025 - RBC’s foreign exchange team forecasts that there is perhaps another penny of strength left in the loonie, suggesting that we have seen the majority of the rally already. We note that currency forecasts are always subject to change with market events, but given the outlook for interest rates in Canada and the United States we think this is a reasonable assumption, particularly paired with data we have seen that shows U.S. dollar sentiment is among the most negative in two decades.

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November 7, 2024 - From tariffs to taxes, the new ... As the U.S. economy has been outperforming Canada’s, Freestone expects the Canadian Dollar to weaken in Q4 2024 and into Q1 2025....

June 12, 2025 - An in-depth analysis of the key drivers of economic activity in Canada and the US including a discussion of global factors that will affect these near term forecasts · A forward-looking analysis of Canadian, U.S. and international financial market trends including interest rate and currency ...

One condition that makes it harder for the Canadian dollar to fall much further is that the U.S. currency is 26% overvalued (Exhibit 9), and unlike in 2016-2018, Trump’s election and imposition of tariffs have not come as a complete surprise. We had also already seen the Canadian dollar weaken in late 2024 to price in some of the potential tariff threats. Note: *Assumes tarrifs remain in place until the end of 2025. Source: RBC GAM

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