Reuters Poll: CAD to rise 1% to 1.26/USD in three months vs. 1.25 in December poll
According to a recently conducted Reuters survey, experts expect the Canadian dollar to strengthen against the greenback in 2022.
The median forecast for the USD/CAD pair stands at 1.2600 in three months, compared to 1.2500 in December's poll. By the end of the year, the pair is expected to decline by 3% to 1.2350, slightly higher than the previous forecast of 1.2300.
"Canada is a major producer of commodities, including oil, so the loonie tends to be sensitive to the outlook for the global economy. Oil has rallied 27% since December," Reuters noted.
Market reaction
USD/CAD showed no immediate reaction to this headline and was last seen posting small daily losses at 1.2718.
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