Interesting AUD to CAD Bank Forecasts and Charts in 2019

The Canadian Dollar is bouncing back from hitting a one-year low back in June. The reason? The US, Canada and Mexico have just reached trade agreement that will replace NAFTA and is called the United States-Mexico-Canada Agreement (USMCA).

With the Australian Dollar remaining flat around 72 cents, what does this mean for the AUD CAD? And will this falling trend continue next year? Yes. According to major bank forecasts, the AUD CAD might be slightly lower in 2019 compared to 2018.

This article presents major bank outlooks for the AUD to CAD and is updated regularly.

AUD to CAD trend

It’s often said that commodity prices, especially oil, has the strongest influence on the Canadian dollar, and it’s no great surprise given the country’s reliance on its natural resources. With the US consuming 75% of Canada's oil, news that Canada agreed on a trade deal with the US and Mexico is a boost to its economy and the Canadian dollar.

What about the Australian Dollar (AUD)? Well, it looks pretty flat, sitting around 72 cents. With the Canadian dollar (CAD) improving and the Australian dollar staying flat, the AUD to CAD exchange rate has fallen over 9% since it peaked in March. So will the rate continue to fall next year? According to the major banks, yes it will.

Check today's AUD/CAD Rate: Currency Converter and Graph

AUD to CAD bank forecasts today

AUD to CAD Bank Forecasts

RBC predict the AUD to CAD exchange rate to end the year around 0.9030, about 2.5% lower than the current rate.

AUD to CAD Bank Forecasts

Scotiabank is less pessimistic than the RBC, with the AUD CAD exchange rate expected to rise a touch from current levels to 0.9359 by the end of the year.

National Australia Bank is not as pessimistic as its Canadian counterparts. They expect the AUD CAD exchange rate to rise to 0.9600 by the end of the year, before trending down next year.

Compare Australian Dollar to Canadian Dollar Exchange Rates

Compare exchange rates from Australian banks and foreign exchange leaders.

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AUD to CAD long term forecasts

On average, the major Australian and Canadian banks we looked at believe the AUD to CAD exchange rate in 2019 will gradually decline.

  • Scotiabank was an exception, with a relatively flat trend for the AUD to CAD. The rate is expected to bounce up to 0.9625 by December.
  • Royal Bank of Canada (RBC) is the most pessimistic, with the AUD to CAD rate expected to fall towards 0.8960 by the end of 2019.
  • National Australian Bank (NAB) is expecting the AUD to CAD exchange rate to decline slightly to 0.9300 by the end of the year.

 

 

AUD to CAD 2018 and 2019 Graph

CAD to AUD forecasts

If you want to convert AUD CAD into CAD AUD all you need to do is divide 1 by the rate.

For example, if the AUD to CAD exchange rate is 0.9500, then $1.00 Australian dollar is worth $0.95  Canadian cents. You divide 1 by $0.9500 to find the CAD AUD exchange rate of 1.0526. You then multiply the rate by the amount you want to calculate. E.g. $100 Canadian dollars is equivalent to $105.26 Australian dollars.

To save you some time, we have already calculated some of the major bank forecast exchange rates in the table below.

CAD to AUD forecast exchange rates

Mar 2019 Jun 2019 Sep 2019 Dec 2019
RBC 1.1004 1.1090 1.1161 1.1161
Scotiabank 1.0667 1.0649 1.0649 1.0390
NAB 1.0526 1.0638 1.0638 1.0753
Average 1.0732 1.0793 1.0816 1.0768
Ileana Ionescu
Author
Ileana Ionescu
Content manager
With a background in business journalism, Ileana is an experienced content manager, creating content for Exiap that helps its audience make informed decisions about their finances.
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Last updated
March 4th, 2021