Analysts stick to bullish Canadian dollar forecasts, eye soft economic landing – Reuters poll

The Canadian dollar is set to strengthen over the coming year if the Federal Reserve shifts to cutting interest rates as expected and the U.S. economy slows without slipping into recession, a Reuters poll found. In the March 1-6 poll of 40 foreign exchange analysts the median forecast was for the loonie to strengthen 1.4% to 1.34 per U.S. dollar, or 74.63 U.S. cents, in three months, matching the forecast in February's poll. The expected strengthening comes as some analysts forecast broad-based declines for the U.S. dollar.