The CAD to PHP exchange rate is currently trading at approximately 42.05, marking a significant increase of 2.6% from its three-month average of 40.98. This shift reflects a broader trend where the CAD has recently reached 90-day highs, moving within a stable range of 39.72 to 42.05. Analysts suggest that this upward momentum has been influenced by strong oil prices, with recent data showing crude oil at $72.53, which is approximately 6.7% above its three-month average. This recovery in oil prices typically supports the Canadian dollar, given Canada’s status as a major oil exporter.
However, the CAD’s strength is complicated by a cautious stance from the Bank of Canada and aggressive monetary policy from the Federal Reserve, which is bolstering the U.S. dollar. Recent forecasts indicate that if oil prices continue to recover, significant support for the CAD may be realized, especially as economic conditions stabilize post-political turmoil with the leadership transition in Canada.
On the other hand, the Philippine peso appears under pressure due to deteriorating external balances and increasing political uncertainty, particularly in light of the recent tariffs imposed by the U.S. Expert forecasts predict potential depreciation for the PHP against the USD throughout 2025. This positions the PHP in a vulnerable state, which could further strain its exchange rate against the CAD.
Overall, the CAD to PHP exchange rate outlook will be contingent upon several key factors: oil price movements, the Bank of Canada’s policy decisions, and evolving geopolitical dynamics, particularly with the U.S. Furthermore, while the recent highs in the CAD to PHP exchange rate present a favorable scenario for Canadian transactions, ongoing developments in both economies will be crucial for future positioning.