CANADIAN DOLLAR FORECAST, March 2020

USD/CAD Forecast
Bank Trend Q1 2020 January 2020 February 2020 Q2 2020 Q3 2020
CIBC ⇗ 1.3200 1.3400 1.3400 1.3600 1.3600
TD ⇒ 1.3200 1.3400 1.3400 1.3600 1.3600
BNS ⇘ 1.3200 1.3400 1.3400 1.3600 1.3600
RBC ⇒ 1.3200 1.3400 1.3400 1.3600 1.3600
BMO ⇘ 1.3200 1.3400 1.3400 1.3600 1.3600
Average ⇒ 1.3200 1.3400 1.3400 1.3600 1.3600

Summary

The closure of non-essential business across the country will have large economic consequences. At present, most believe Canadian economic activity will fall by 28% in Q2 as these measures are felt. Assuming a return to more normal operating conditions by the end of Q2, Canadian GDP is expected to fall 4.1% this year followed by a rebound of 5.1% in 2021. The Saudi-Russia oil spat isn't helping either. WTI oil prices will continue to play a heavy hand in the direction of the CAD.

EUR/CAD Forecast
Bank Trend Q1 2020 January 2020 February 2020 Q2 2020 Q3 2020
CIBC ⇗ 1.3200 1.3400 1.3400 1.3600 1.3600
TD ⇒ 1.3200 1.3400 1.3400 1.3600 1.3600
BNS ⇘ 1.3200 1.3400 1.3400 1.3600 1.3600
RBC ⇒ 1.3200 1.3400 1.3400 1.3600 1.3600
BMO ⇘ 1.3200 1.3400 1.3400 1.3600 1.3600
Average ⇒ 1.3200 1.3400 1.3400 1.3600 1.3600

Summary

The closure of non-essential business across the country will have large economic consequences. At present, most believe Canadian economic activity will fall by 28% in Q2 as these measures are felt. Assuming a return to more normal operating conditions by the end of Q2, Canadian GDP is expected to fall 4.1% this year followed by a rebound of 5.1% in 2021. The Saudi-Russia oil spat isn't helping either. WTI oil prices will continue to play a heavy hand in the direction of the CAD.

GBP/CAD Forecast
Bank Trend Q1 2020 January 2020 February 2020 Q2 2020 Q3 2020
CIBC ⇗ 1.3200 1.3400 1.3400 1.3600 1.3600
TD ⇒ 1.3200 1.3400 1.3400 1.3600 1.3600
BNS ⇘ 1.3200 1.3400 1.3400 1.3600 1.3600
RBC ⇒ 1.3200 1.3400 1.3400 1.3600 1.3600
BMO ⇘ 1.3200 1.3400 1.3400 1.3600 1.3600
Average ⇒ 1.3200 1.3400 1.3400 1.3600 1.3600

Summary

The closure of non-essential business across the country will have large economic consequences. At present, most believe Canadian economic activity will fall by 28% in Q2 as these measures are felt. Assuming a return to more normal operating conditions by the end of Q2, Canadian GDP is expected to fall 4.1% this year followed by a rebound of 5.1% in 2021. The Saudi-Russia oil spat isn't helping either. WTI oil prices will continue to play a heavy hand in the direction of the CAD.

Looking for a particular rate? Our trigger reports will alert you when your target rate is reached.

Currency Chart

Get access to our expert market analyses and discover how your currency has been tracking with our exchange rate charts.

As at 27 Mar 2020 12:30 (IST) Refresh

Sign up to receive the latest market news from our experts.

FAQs

Who can use the MTFX payment service?

Individuals and businesses who need to send money in foreign currency internationally can use MTFX’s services. The beneficiary of the transfer must have a bank account for the funds to be paid into.

Personal clients usually use our services to transfer money between their own accounts in two different countries.

Business clients usually use our services to transfer funds to suppliers, fund international operations or repatriate overseas earnings.

All you need to do is complete a simple online form to register with us. Our online application processes are quick and easy, and, in most cases, you can book your first deal on the same day. MTFX offers both personal and business accounts. Click here to get started

VIEW ALL FAQS