empty
 
 
09.02.2023 10:37 AM
Analysts see loonie rising by the end of this year

This image is no longer relevant

A Reuters poll released on Wednesday said loonie will rise by the end of this year due to the global economic outlook becoming more favorable for commodity-linked currencies and potential interest rate cuts from central banks in 2024. However, the average forecast from analysts is for the Canadian dollar to change slightly in three months' time, from C$ 1.34 (or 74.63 US cents) to C$ 1.30, which is a gain of just over 3%.

This image is no longer relevant

China is one of the main drivers of rising optimism. A quick rebound in its economy is likely to spur demand for goods produced by Canada, potentially helping to avoid a recession if it does not lead to higher inflation and further interest rate increases. Other commodity-linked currencies, such as the Australian dollar and emerging market currencies, are also expected to benefit from China's opening.

Last month, the Bank of Canada became the first major central bank to suspend its tightening campaign, saying it would take time to assess whether raising rates would benefit inflation. The US Federal Reserve, the European Central Bank, and the Bank of England are also on hold, but have not yet finished raising rates.

With the end of tightening just around the corner, markets are hopeful that the Fed and Bank of Canada will move to cut rates by the end of the year and then cut more sharply in 2024. Equities are the ones that will benefit the most in such a situation.

Irina Yanina,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $1000 अधिक!
    में जून हम आकर्षित करते हैं $1000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback