The CAD to MYR exchange rate remains under pressure, primarily due to the current prices of oil and broader economic factors affecting both currencies. As of the latest data, the CAD is trading at 2.9589, which is approximately 0.8% below its three-month average of 2.9823. Recent trading has been relatively stable, with fluctuations confined to a 3.3% range, signaling limited volatility in the near term.
The Canadian dollar's performance has been closely tied to oil prices, given Canada’s status as a major oil exporter. Recent trends indicate that oil prices have fallen, currently at $60.89, which is 3.9% below the three-month average. The fluctuations in oil prices can significantly impact the Canadian economy and, consequently, the CAD's strength on the foreign exchange market. Analysts note that lower oil prices typically exert downward pressure on the CAD due to reduced demand for Canadian exports.
On the other hand, the Malaysian ringgit (MYR) has seen notable appreciation, driven by a weaker US dollar and strong economic performance in Malaysia. By the end of 2025, the MYR had appreciated over 8%, supported by favorable GDP growth and a stable monetary policy maintained by Bank Negara Malaysia. The ringgit's rise correlates with Malaysia's strengthened trade relations, particularly following a new trade agreement with the United States, enhancing investor confidence.
The interaction between these currencies is also influenced by economic indicators. While Canada reported a GDP growth of 2.6% and a reduction in the unemployment rate to 6.5%, these have been overshadowed by trade policy uncertainties and a divergence in monetary policy between Canada and the United States. This difference is contributing to a weaker outlook for the CAD. Conversely, the MYR benefits from robust economic indicators and stable policy decisions, thereby enhancing its value in the currency market.
In summary, the outlook for the CAD to MYR exchange rate is influenced by the dynamics of oil prices, trade relations, and economic performance in both countries. With the current pressures on the CAD and the positive trajectory of the MYR, it appears that the ringgit may continue to perform favorably against the loonie in the near future.
