# Canadian dollar could drop to 65 cents US in 2017, Macquarie forecasts | CBC News

> Macquarie analyst David Doyle forecasts the Canadian dollar could fall to about 65 US cents within 12 months from around 74 cents. The forecast cites widening US-Canada interest rate divergence and lower oil prices. The Bank of Canada is expected to hold rates through 2017.

- Date: 2016-12-22 · published 2016-12-22T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/73704-canadian-dollar-could-drop-to-65-cents-us-in-2017-macquarie-forecasts-cbc-news
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker loonie would lower the US-dollar price of Canadian exports, while the forecast reflects expected downward pressure on oil.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-06-01 | [Canadian Dollar falls despite solid jobs data as US NFP beat forecasts](https://feedsoft.ai/events/19480-canadian-dollar-falls-despite-solid-jobs-data-as-us-nfp-beat-forecasts.md) | +3.5% | -20.5% |
| WTI | 2021-04-21 | [Canadian dollar sees biggest drop in nearly 2 months as oil falls](https://feedsoft.ai/events/47853-canadian-dollar-sees-biggest-drop-in-nearly-2-months-as-oil-falls.md) | +0.7% | +4.7% |
| WTI | 2018-11-30 | [Baystreet.ca - USD/CAD - GDP Could Boost Canadian Dollar](https://feedsoft.ai/events/62277-baystreet-ca-usd-cad-gdp-could-boost-canadian-dollar.md) | +0.1% | -12.1% |
| WTI | 2022-03-31 | [Canadian dollar shrugs off the oil drop](https://feedsoft.ai/events/42501-canadian-dollar-shrugs-off-the-oil-drop.md) | -10.6% | -2.2% |
| WTI | 2020-04-03 | [Canadian dollar forecasts slashed, bracing for recession \| Financial Post](https://feedsoft.ai/events/53865-canadian-dollar-forecasts-slashed-bracing-for-recession-financial-post.md) | -9.4% | -19.0% |

## Sources

- cbc.ca: https://www.cbc.ca/news/business/dollar-loonie-prediction-1.3909519

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