PR International

Currency update | February 2019

It appears that the nation’s economic prospects are not as uneven as previously anticipated, enabling some Canadian dollar bulls to look past the recent slide in domestic crude prices and focus instead on the outlook for economic growth and the prospect of higher interest rates.
According to the National Post, analysts continue to predict gains for the loonie, with the median forecast in a Bloomberg survey showing it appreciating to 80 US cents by the end of next year from current levels around 76.90. “Good economic conditions in Canada are leading toward ongoing tightening by the Bank of Canada,” said Greg Anderson, head of foreign-exchange strategy at Bank of Montreal, who expects the Canadian dollar to strengthen to about 78.74 US cents over the next three months.

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