# Canadian dollar seen higher if Bank of Canada takes lead on rate hikes | Financial Post

> A Reuters poll of 32 strategists projects the Canadian dollar will strengthen 2.4% to 80 US cents in three months and to 81.30 cents in a year. Analysts expect the Bank of Canada to raise rates before the Federal Reserve and expect oil prices to rebound. Canada's third-quarter GDP grew at an annualized 5.4%.

- Date: 2021-12-03 · published 2021-12-03T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/43860-canadian-dollar-seen-higher-if-bank-of-canada-takes-lead-on-rate-hikes
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Consensus expects higher oil and earlier Bank of Canada hikes, both of which would lift the loonie. A firmer CAD lowers the cost of US-priced feed imports for Canadian buyers.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- financialpost.com: https://financialpost.com/news/economy/canadian-dollar-seen-higher-if-boc-takes-lead-on-rate-hikes

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