# Canadian dollar forecasts trimmed by analysts as BoC moves closer to rate cuts: Reuters poll

> A Reuters poll of about 40 foreign exchange analysts expects the Canadian dollar to strengthen 0.7% to 1.36 per U.S. dollar in three months, versus 1.34 in the previous poll. The forecast for one year out was trimmed to 1.32 from 1.31. Analysts expect the Bank of Canada to begin cutting rates before the Federal Reserve.

- Date: 2024-05-03 · published 2024-05-03T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/30516-canadian-dollar-forecasts-trimmed-by-analysts-as-boc-moves-closer-to-rate-cuts
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Smaller expected loonie gains imply a less favourable exchange rate for Canadian exports over the coming year. That slightly reduces the appeal of Canadian oilseeds for overseas feed buyers.

## Read by commodity

- USDCAD: neutral

## Sources

- ca.finance.yahoo.com: https://ca.finance.yahoo.com/news/canadian-dollar-forecasts-trimmed-analysts-111119314.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.