Current Forecast of Canadian Dollar to US Dollar
Units: CAD per USD, Average of Month. Not Seasonally Adjusted.
Solid Line = Actual Values. Dashed Line = Predicted Values.
Forecast Values for Canadian Dollar to US Dollar
How This Forecast is Produced
The forecast of the indicator above is produced using Multichannel Singular Spectrum Analysis, or MSSA.
The forecast is made by using MSSA to decompose the time series into a trend component and many cyclical components. The decomposed components of the time series are then projected forward in time.
The Canadian Dollar, CAD
The Canadian Dollar, or CAD, is the official currency of Canada, and is sometime referred to as the loonie. The Canadian Dollar is the 7th most traded currency in the foreign exchange market, and is the 5th most held reserve currency.