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This potential political shift in Canada is thus seen as a critical factor for traders and investors watching the CAD. This article was generated with the support of AI and reviewed by an editor.

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Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.

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In summary, the strategist's view is that the closer Canada is to an early election and a Conservative-led government, the more likely it is that the USD/CAD exchange rate will peak sooner than later.

Read more details about the forecast. The USD/CAD will see diverging central bank policy as a key driver through 2024, and the correlation between the Canadian Dollar and Crude Oil is likely to ...