Canadian dollar’s outlook for 2023 uncertain as interest rate hikes wane, experts say

Experts say the outlook for the loonie in 2023 largely depends on commodity prices, how the U.S. dollar fares, and whether central banks are successful in avoiding a major recession.recently rose to its highest level in more than two months against the U.S. dollar, which gained strength Friday after a stronger-than-expected jobs report.

Michael Greenberg, senior vice-president and portfolio manager at Franklin Templeton Investment Solutions, says if the economic downturn provoked by central banks’ policies is harsher than expected or hoped for, that would weaken the loonie.Tickers mentioned in this storyBuild your personal news feed

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Canadian dollar's outlook for 2023 uncertain as interest rate hikes wane: expertsExperts say the outlook for the loonie in 2023 largely depends on commodity prices, how the U.S. dollar fares, and whether central banks are successful in avoiding a major recession.
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